Entrada Therapeutics’ (TRDA) Buy Rating Reiterated at HC Wainwright

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $20.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 81.49% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Oppenheimer began coverage on shares of Entrada Therapeutics in a research note on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 target price for the company. Roth Mkm set a $13.00 price target on shares of Entrada Therapeutics in a research report on Thursday, November 6th. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Entrada Therapeutics Stock Up 1.3%

TRDA stock opened at $11.02 on Wednesday. The company has a market cap of $421.18 million, a price-to-earnings ratio of -4.43 and a beta of -0.12. Entrada Therapeutics has a twelve month low of $4.93 and a twelve month high of $13.82. The business has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $8.15.

Insider Activity at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 8,910 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $9.98, for a total value of $88,921.80. Following the transaction, the chief financial officer directly owned 110,026 shares of the company’s stock, valued at $1,098,059.48. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRDA. Millennium Management LLC raised its holdings in Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after acquiring an additional 666,287 shares during the period. Citadel Advisors LLC increased its stake in shares of Entrada Therapeutics by 234.5% during the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after purchasing an additional 235,384 shares during the period. Baker BROS. Advisors LP lifted its holdings in Entrada Therapeutics by 4.3% during the 4th quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock worth $52,148,000 after purchasing an additional 206,911 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Entrada Therapeutics by 115.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after purchasing an additional 154,143 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Entrada Therapeutics by 4,767.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock valued at $860,000 after buying an additional 145,167 shares in the last quarter. 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.