Entrada Therapeutics (NASDAQ:TRDA) Rating Lowered to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of Entrada Therapeutics (NASDAQ:TRDA - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Entrada Therapeutics in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Entrada Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

Entrada Therapeutics Trading Down 3.3%

TRDA traded down $0.26 during midday trading on Friday, reaching $7.59. The company's stock had a trading volume of 117,868 shares, compared to its average volume of 132,969. The stock has a market cap of $288.06 million, a P/E ratio of 4.77 and a beta of -0.06. The company has a fifty day simple moving average of $8.21 and a 200 day simple moving average of $11.98. Entrada Therapeutics has a twelve month low of $7.10 and a twelve month high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.36. The firm had revenue of $8.75 million for the quarter, compared to analyst estimates of $10.98 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. Sell-side analysts expect that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Institutional Trading of Entrada Therapeutics

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Entrada Therapeutics in the 4th quarter worth approximately $57,000. Deutsche Bank AG lifted its position in shares of Entrada Therapeutics by 55.5% in the 4th quarter. Deutsche Bank AG now owns 21,740 shares of the company's stock worth $376,000 after acquiring an additional 7,757 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Entrada Therapeutics in the 4th quarter worth approximately $36,000. Ameriprise Financial Inc. lifted its position in shares of Entrada Therapeutics by 6.6% in the 4th quarter. Ameriprise Financial Inc. now owns 40,624 shares of the company's stock worth $702,000 after acquiring an additional 2,517 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Entrada Therapeutics in the 4th quarter worth approximately $251,000. Institutional investors own 86.39% of the company's stock.

Entrada Therapeutics Company Profile

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.