Cantor Fitzgerald Begins Coverage on Entrada Therapeutics (NASDAQ:TRDA)

Analysts at Cantor Fitzgerald started coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a note issued to investors on Wednesday. The firm set an “overweight” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Friday. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Finally, Oppenheimer assumed coverage on shares of Entrada Therapeutics in a research note on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Entrada Therapeutics Price Performance

TRDA opened at $12.62 on Wednesday. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $13.65. The firm has a market capitalization of $483.09 million, a PE ratio of -3.65 and a beta of -0.12. The company’s 50-day moving average is $11.69 and its 200 day moving average is $9.55.

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

Insiders Place Their Bets

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 11,388 shares of Entrada Therapeutics stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total value of $148,271.76. Following the sale, the chief financial officer 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total transaction of $155,216.70. Following the transaction, the chief operating officer directly owned 198,588 shares of the company’s stock, valued at $2,591,573.40. This represents a 5.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,475 shares of company stock worth $508,069 over the last quarter. Company insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Entrada Therapeutics by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,495 shares of the company’s stock valued at $176,000 after purchasing an additional 1,560 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Entrada Therapeutics by 7.1% in the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after purchasing an additional 1,620 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Entrada Therapeutics by 5.5% in the fourth quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock valued at $445,000 after purchasing an additional 2,239 shares during the period. Intech Investment Management LLC lifted its stake 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 buying an additional 2,397 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares during the period. Hedge funds and other 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.