Entrada Therapeutics (NASDAQ:TRDA) Sets New 12-Month High – Still a Buy?

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.66 and last traded at $13.3660, with a volume of 121137 shares trading hands. The stock had previously closed at $12.62.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRDA. Cantor Fitzgerald began coverage on shares of Entrada Therapeutics in a research note on Wednesday. They issued an “overweight” rating for the company. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Entrada Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Entrada Therapeutics Stock Up 6.8%

The firm has a market capitalization of $515.98 million, a PE ratio of -3.90 and a beta of -0.12. The business’s 50-day moving average price is $11.69 and its 200-day moving average price is $9.55.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The company had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. On average, analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total transaction of $155,216.70. Following the completion of the sale, the chief operating officer directly owned 198,588 shares in the company, valued at $2,591,573.40. The trade was a 5.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kory James Wentworth sold 11,388 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total value of $148,271.76. Following the completion of the sale, the chief financial officer directly owned 121,510 shares of the company’s stock, valued at approximately $1,582,060.20. The trade was a 8.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 39,475 shares of company stock worth $508,069. Insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRDA. Geode Capital Management LLC grew its position in Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after acquiring an additional 42,479 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Entrada Therapeutics by 15.7% during the 2nd quarter. Intech Investment Management LLC now owns 17,702 shares of the company’s stock valued at $119,000 after purchasing an additional 2,397 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Entrada Therapeutics by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after purchasing an additional 2,982 shares during the last quarter. American Century Companies Inc. boosted its holdings in Entrada Therapeutics by 10.8% in the second quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock worth $505,000 after purchasing an additional 7,301 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Entrada Therapeutics by 23.4% in the second quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock worth $190,000 after purchasing an additional 5,370 shares in the last quarter. Institutional investors 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.