Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives $17.75 Average PT from Brokerages

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

A number of research firms have recently issued reports on TRDA. Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Guggenheim dropped their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 8th. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Roth Capital reiterated a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $7.13 on Friday. Entrada Therapeutics has a fifty-two week low of $5.02 and a fifty-two week high of $16.45. The stock has a market cap of $277.64 million, a P/E ratio of -1.80 and a beta of -0.25. The firm’s fifty day moving average price is $7.06 and its 200-day moving average price is $9.19.

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

Insiders Place Their Bets

In other news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $7.06, for a total transaction of $102,857.14. Following the transaction, the insider directly owned 4,318,348 shares of the company’s stock, valued at approximately $30,487,536.88. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kush Parmar sold 92,444 shares of Entrada Therapeutics stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $7.00, for a total value of $647,108.00. Following the completion of the transaction, the director owned 2,691,337 shares in the company, valued at approximately $18,839,359. This represents a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 687,124 shares of company stock valued at $4,819,524 over the last three months. Insiders own 9.49% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Entrada Therapeutics by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after buying an additional 1,970 shares during the last quarter. Great Lakes Advisors LLC boosted its position in Entrada Therapeutics by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock valued at $445,000 after buying an additional 2,239 shares during the period. Quadrature Capital Ltd grew 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 acquiring an additional 2,424 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Entrada Therapeutics by 3.6% in the second quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock valued at $505,000 after acquiring an additional 2,631 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.