Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Average Target Price of $17.75

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.75.

Several brokerages have commented on TRDA. Roth Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Finally, Weiss Ratings upgraded shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd.

Entrada Therapeutics Stock Down 8.6%

NASDAQ:TRDA opened at $4.37 on Friday. Entrada Therapeutics has a 1-year low of $4.11 and a 1-year high of $16.45. The firm has a market capitalization of $170.17 million, a price-to-earnings ratio of -1.10 and a beta of -0.24. The stock has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $7.95.

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

Insider Buying and Selling

In related news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the transaction, the insider owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $7.41, for a total transaction of $1,426,425.00. Following the transaction, the insider owned 3,913,952 shares in the company, valued at approximately $29,002,384.32. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 946,961 shares of company stock valued at $6,725,291. Company insiders own 9.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRDA. State of Wyoming acquired a new position in Entrada Therapeutics during the second quarter valued at $37,000. ADAR1 Capital Management LLC purchased a new stake in Entrada Therapeutics in the 2nd quarter worth about $114,000. Allspring Global Investments Holdings LLC lifted its stake in Entrada Therapeutics by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock worth $246,000 after acquiring an additional 1,970 shares in the last quarter. Deutsche Bank AG purchased a new stake in Entrada Therapeutics in the 2nd quarter worth about $195,000. Finally, Ieq Capital LLC acquired a new stake in Entrada Therapeutics during the 2nd quarter worth about $218,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

About Entrada Therapeutics

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines that address diseases caused by genetic abnormalities. The company’s research centers on its proprietary Endosomal Escape Vehicle (EEV) platform, which is designed to transport therapeutic cargo into cells and release it from endosomes, potentially enabling treatment of targets that have been difficult to reach with conventional drug-delivery approaches.

Entrada is developing EEV-based therapeutics using modalities such as oligonucleotides, including compounds intended to modify RNA or influence gene expression.