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

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of brokerages have recently commented on TRDA. HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Roth Capital set a $10.00 target price on shares of Entrada Therapeutics in a research note on Friday, May 8th. Weiss Ratings cut Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Finally, Guggenheim lowered their price target 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.

Entrada Therapeutics Stock Performance

NASDAQ TRDA opened at $6.87 on Tuesday. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $16.45. The stock has a 50 day moving average of $6.86 and a 200-day moving average of $9.72. The company has a market cap of $267.52 million, a PE ratio of -1.73 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last issued its 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). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. As a group, sell-side analysts predict that Entrada Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the sale, the director owned 2,848,310 shares of the company’s stock, valued at $19,738,788.30. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of Entrada Therapeutics stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the insider directly 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 232,948 shares of company stock worth $1,614,055. 9.49% of the stock is owned by company insiders.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Entrada Therapeutics during the second quarter worth approximately $19,013,000. Millennium Management LLC boosted its holdings in shares of 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 acquiring an additional 666,287 shares during the period. Citadel Advisors LLC boosted its holdings in shares of 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 acquiring an additional 235,384 shares during the period. Baker BROS. Advisors LP grew its position in shares of Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after purchasing an additional 206,911 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Entrada Therapeutics by 115.3% in the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after purchasing an additional 154,143 shares during the last quarter. 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.