Analysts Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) Target Price at $25.67

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $25.6667.

A number of brokerages have commented on TRDA. Weiss Ratings restated a “sell (d-)” rating on shares of Entrada Therapeutics in a research note on Wednesday. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded shares of Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TRDA. State of Wyoming boosted its stake in shares of Entrada Therapeutics by 130.9% during the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Entrada Therapeutics during the second quarter valued at approximately $68,000. IHT Wealth Management LLC bought a new position in shares of Entrada Therapeutics during the second quarter valued at approximately $72,000. Virtus Investment Advisers LLC boosted its stake in shares of Entrada Therapeutics by 32.1% during the second quarter. Virtus Investment Advisers LLC now owns 11,979 shares of the company’s stock valued at $80,000 after purchasing an additional 2,914 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Entrada Therapeutics during the first quarter valued at approximately $101,000. 86.39% of the stock is currently owned by institutional investors.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $6.09 on Friday. The company has a market capitalization of $231.66 million, a P/E ratio of -3.42 and a beta of -0.11. The company’s 50-day simple moving average is $5.54 and its two-hundred day simple moving average is $6.98. Entrada Therapeutics has a one year low of $4.93 and a one year high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Wednesday, August 6th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.18). The company had revenue of $1.98 million during the quarter, compared to the consensus estimate of $8.17 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%. On average, research analysts expect that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

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.