Wall Street Zen Upgrades Entrada Therapeutics (NASDAQ:TRDA) to Hold

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

TRDA has been the topic of a number of other research reports. Roth Capital restated a “buy” rating and set a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. UBS Group reiterated a “neutral” rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.75.

Entrada Therapeutics Stock Performance

NASDAQ:TRDA opened at $4.41 on Friday. The firm has a market cap of $171.73 million, a price-to-earnings ratio of -1.11 and a beta of -0.24. The company’s 50-day moving average is $6.33 and its two-hundred day moving average is $7.62. Entrada Therapeutics has a 12-month low of $4.11 and a 12-month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. On average, equities research analysts forecast that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $7.06, for a total value of $102,857.14. Following the completion of the sale, the insider owned 4,318,348 shares in the company, valued at $30,487,536.88. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total value of $205,607.81. Following the completion of the sale, the insider owned 3,885,115 shares of the company’s stock, valued at $27,700,869.95. This trade represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 946,961 shares of company stock worth $6,725,291. 9.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds have recently modified their holdings of the stock. Odyssean LLC purchased a new stake in Entrada Therapeutics in the second quarter valued at approximately $230,000. Nantahala Capital Management LLC acquired a new position in Entrada Therapeutics during the second quarter worth approximately $2,212,232. Public Employees Retirement System of Ohio purchased a new position in Entrada Therapeutics during the second quarter worth approximately $276,000. Bank of America Corp DE purchased a new position in Entrada Therapeutics during the second quarter worth approximately $426,000. Finally, 5AM Venture Management LLC purchased a new position in Entrada Therapeutics during the second quarter worth approximately $29,854,949. 86.39% of the stock is owned by institutional investors and hedge funds.

About Entrada Therapeutics

Entrada Therapeutics, Inc (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.

Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.