Entrada Therapeutics (NASDAQ:TRDA) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Entrada Therapeutics (NASDAQ:TRDA - Free Report) from a sell rating to a hold rating in a research report released on Friday.

Separately, HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research note on Tuesday, May 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Entrada Therapeutics presently has an average rating of "Buy" and an average price target of $25.67.

Entrada Therapeutics Price Performance

Shares of TRDA stock traded down $0.11 during mid-day trading on Friday, hitting $6.91. The stock had a trading volume of 545,179 shares, compared to its average volume of 135,957. Entrada Therapeutics has a 12-month low of $6.80 and a 12-month high of $21.79. The firm's 50-day moving average is $8.03 and its two-hundred day moving average is $11.07. The firm has a market capitalization of $262.23 million, a P/E ratio of 8.53 and a beta of -0.06.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.36. Entrada Therapeutics had a net margin of 14.39% and a return on equity of 5.84%. The company had revenue of $8.75 million during the quarter, compared to analyst estimates of $10.98 million. Analysts expect that Entrada Therapeutics will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in shares of Entrada Therapeutics by 6.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company's stock valued at $298,000 after buying an additional 1,000 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Entrada Therapeutics by 7.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 16,453 shares of the company's stock worth $284,000 after acquiring an additional 1,113 shares in the last quarter. WCG Wealth Advisors LLC raised its stake in shares of Entrada Therapeutics by 6.2% during the 4th quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company's stock worth $415,000 after acquiring an additional 1,406 shares in the last quarter. Martingale Asset Management L P lifted its position in Entrada Therapeutics by 4.0% during the first quarter. Martingale Asset Management L P now owns 40,163 shares of the company's stock valued at $363,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Entrada Therapeutics by 4.9% in the fourth quarter. Bank of America Corp DE now owns 35,721 shares of the company's stock valued at $618,000 after acquiring an additional 1,660 shares in the last quarter. Institutional investors own 86.39% of the company's stock.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.