Entrada Therapeutics (NASDAQ:TRDA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Entrada Therapeutics (NASDAQ:TRDA) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

TRDA has been the topic of a number of other reports. Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Roth Capital restated a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Finally, Guggenheim cut their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Entrada Therapeutics Price Performance

Shares of Entrada Therapeutics stock opened at $7.13 on Friday. The firm has a market cap of $277.64 million, a PE ratio of -1.80 and a beta of -0.25. Entrada Therapeutics has a 52 week low of $5.02 and a 52 week high of $16.45. The business’s fifty day simple moving average is $7.05 and its 200-day simple moving average is $9.15.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. As a group, equities analysts expect that Entrada Therapeutics will post -4.03 earnings per share for the current year.

Insider Buying and Selling at Entrada Therapeutics

In related news, Director Kush Parmar sold 92,444 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $7.00, for a total transaction of $647,108.00. Following the completion of the transaction, the director owned 2,691,337 shares in the company, valued at approximately $18,839,359. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 32,263 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $7.17, for a total value of $231,325.71. Following the completion of the transaction, the insider directly owned 4,144,952 shares in the company, valued at $29,719,305.84. This trade represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 687,124 shares of company stock valued at $4,819,524. Insiders own 9.49% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the business. 5AM Venture Management LLC acquired a new position in Entrada Therapeutics in the second quarter valued at approximately $29,854,949. BlackRock Inc. purchased a new position in Entrada Therapeutics in the second quarter valued at approximately $19,013,000. Millennium Management LLC raised its holdings in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after purchasing an additional 666,287 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Entrada Therapeutics during the second quarter worth approximately $2,212,232. Finally, Citadel Advisors LLC raised its holdings in 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 in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.