Entrada Therapeutics (NASDAQ:TRDA) Trading 7.6% Higher - Should You Buy?

Key Points

• Shares of Entrada Therapeutics rose 7.6% on Monday to about $15.60 on notably light volume (41,940 shares vs. an average of 211,064).
• Analysts are mixed but generally positive: the consensus is a "Moderate Buy" with an average price target of $19.00, and several firms have issued upgrades or buy/strong-buy ratings.
• The company beat EPS expectations (reported -$0.94 vs. est. -$1.32) but missed on revenue (~$1.3M vs. $7.4M expected) and remains unprofitable with negative margins and ROE.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s share price traded up 7.6% on Monday . The company traded as high as $15.49 and last traded at $15.6010. 41,940 shares changed hands during trading, a decline of 80% from the average session volume of 211,064 shares. The stock had previously closed at $14.50.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer increased their price target on Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Cantor Fitzgerald started coverage on Entrada Therapeutics in a report on Wednesday, April 1st. They issued an "overweight" rating for the company. Guggenheim raised Entrada Therapeutics to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Entrada Therapeutics Stock Performance

The business has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $10.75. The stock has a market capitalization of $612.98 million, a P/E ratio of -4.56 and a beta of -0.09.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.32) by $0.38. The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. Equities research analysts forecast that Entrada Therapeutics, Inc. will post -4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kory James Wentworth sold 11,388 shares of the 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 completion of the sale, the chief financial officer owned 121,510 shares in the company, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan J. Dowden sold 11,894 shares of the 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 sale, the chief operating officer owned 198,588 shares of the company's stock, valued at $2,591,573.40. This trade represents a 5.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 41,975 shares of company stock valued at $540,444. 8.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP lifted its position in shares of Entrada Therapeutics by 54.8% during the 3rd quarter. Royce & Associates LP now owns 345,507 shares of the company's stock valued at $2,004,000 after acquiring an additional 122,256 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Entrada Therapeutics by 735.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,878 shares of the company's stock valued at $776,000 after acquiring an additional 117,844 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at $391,000. GSA Capital Partners LLP acquired a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at $325,000. Finally, AXQ Capital LP acquired a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 86.39% of the company's stock.

About Entrada Therapeutics

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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