Entrada Therapeutics (NASDAQ:TRDA) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer raised its price target on Entrada Therapeutics from $21 to $23 and kept an "outperform" rating, implying about a 72.22% upside from the prior close.
• Analyst sentiment is mixed but leans positive: MarketBeat's consensus is a "Moderate Buy" with a $19 average target (1 Strong Buy, 3 Buy, 1 Hold, 1 Sell).
• The company reported an EPS beat for the quarter (‑$0.94 vs. ‑$1.32) but revenue missed and margins remain deeply negative; the stock trades around $13.36 with a ~$511M market cap, and insiders sold ~41,975 shares last quarter.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) had its price objective boosted by research analysts at Oppenheimer from $21.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 72.22% from the company's previous close.

Several other equities analysts have also weighed in on TRDA. Cantor Fitzgerald initiated coverage on shares of Entrada Therapeutics in a research note on Wednesday, April 1st. They issued an "overweight" rating for the company. Wall Street Zen lowered shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Guggenheim raised shares of Entrada Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Entrada Therapeutics in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA opened at $13.36 on Monday. Entrada Therapeutics has a one year low of $4.93 and a one year high of $13.66. The business's 50-day moving average price is $11.80 and its two-hundred day moving average price is $9.72. The company has a market capitalization of $511.23 million, a P/E ratio of -3.84 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share for the quarter, topping analysts' consensus estimates of ($1.32) by $0.38. The company had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, equities analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current year.

Insiders Place Their Bets

In related news, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the transaction, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. This trade represents a 5.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kory James Wentworth sold 11,388 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total transaction of $148,271.76. Following the transaction, the chief financial officer directly owned 121,510 shares of the company's stock, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,975 shares of company stock worth $540,444 over the last quarter. 8.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several large investors have recently made changes to their positions in the business. State of Wyoming grew its holdings in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company's stock valued at $51,000 after buying an additional 4,295 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company's stock worth $51,000 after buying an additional 3,707 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Entrada Therapeutics in the third quarter worth $67,000. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics during the 2nd quarter valued at $68,000. Finally, Inscription Capital LLC acquired a new position in Entrada Therapeutics during the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 86.39% of the company's stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics NASDAQ: TRDA is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company's pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.

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