Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Average Recommendation of “Hold” by Brokerages

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.50.

Several equities analysts have weighed in on TRDA shares. Oppenheimer increased their target price on Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Guggenheim cut their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Cantor Fitzgerald started coverage on Entrada Therapeutics in a research note on Wednesday, April 1st. They issued an “overweight” rating on the stock. Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Roth Mkm set a $10.00 target price on Entrada Therapeutics in a research note on Friday, May 8th.

Entrada Therapeutics Stock Performance

NASDAQ:TRDA opened at $6.46 on Monday. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $16.45. The business’s 50-day moving average price is $9.83 and its two-hundred day moving average price is $10.71. The firm has a market capitalization of $250.78 million, a price-to-earnings ratio of -1.62 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.11. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%.The firm had revenue of $0.88 million for the quarter, compared to analyst estimates of $2.92 million. Sell-side analysts predict that Entrada Therapeutics will post -4.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kory James Wentworth sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total transaction of $32,375.00. Following the sale, the chief financial officer owned 119,010 shares of the company’s stock, valued at $1,541,179.50. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nathan J. Dowden sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $15.33, for a total value of $229,950.00. Following the sale, the chief operating officer directly owned 198,588 shares in the company, valued at approximately $3,044,354.04. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 43,407 shares of company stock worth $661,034. 9.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in shares of Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares during the period. State of Wyoming raised its position 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 worth $51,000 after purchasing an additional 4,295 shares during the period. AXQ Capital LP acquired a new stake in shares of Entrada Therapeutics during the third quarter worth about $67,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics during the second quarter worth about $68,000. Finally, Jain Global LLC acquired a new stake in shares of Entrada Therapeutics during the third quarter worth about $69,000. 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.