Entrada Therapeutics (NASDAQ:TRDA) Issues Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Entrada Therapeutics (NASDAQ:TRDA) released its quarterly earnings data on Thursday. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.38, FiscalAI reports. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The company had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million.

Entrada Therapeutics Trading Up 6.8%

Entrada Therapeutics stock traded up $0.81 during midday trading on Thursday, hitting $12.79. The stock had a trading volume of 245,330 shares, compared to its average volume of 173,840. The business has a fifty day moving average price of $10.89 and a 200 day moving average price of $8.40. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $12.88. The stock has a market cap of $488.83 million, a P/E ratio of -5.14 and a beta of -0.12.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new stake in Entrada Therapeutics during the fourth quarter worth about $144,000. Alliancebernstein L.P. grew its holdings in shares of Entrada Therapeutics by 7.1% during the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock valued at $141,000 after purchasing an additional 1,620 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Entrada Therapeutics during the 4th quarter worth approximately $137,000. Russell Investments Group Ltd. raised its position in shares of Entrada Therapeutics by 31.4% during the 4th quarter. Russell Investments Group Ltd. now owns 11,571 shares of the company’s stock worth $119,000 after purchasing an additional 2,763 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Entrada Therapeutics in the 2nd quarter worth approximately $117,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRDA has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Roth Mkm set a $13.00 target price on shares of Entrada Therapeutics in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Oppenheimer assumed coverage on Entrada Therapeutics in a research note on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Entrada Therapeutics Company Profile

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.