Entrada Therapeutics (NASDAQ:TRDA) Announces Quarterly Earnings Results

Entrada Therapeutics (NASDAQ:TRDA) issued its earnings results on Wednesday. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.03, FiscalAI reports. The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.23 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%.

Entrada Therapeutics Trading Down 2.7%

NASDAQ TRDA traded down $0.19 during trading on Thursday, reaching $6.87. The company’s stock had a trading volume of 206,604 shares, compared to its average volume of 332,568. The stock has a market capitalization of $266.73 million, a PE ratio of -1.72 and a beta of -0.26. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $16.45. The business has a 50-day moving average price of $6.86 and a 200-day moving average price of $9.77.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the director directly owned 2,848,310 shares of the company’s stock, valued at $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernhardt G. Zeiher bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $5.86 per share, for a total transaction of $29,300.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $29,300. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 232,948 shares of company stock worth $1,614,055 in the last 90 days. 9.49% of the stock is owned by insiders.

Institutional Trading of Entrada Therapeutics

Several large investors have recently made changes to their positions in TRDA. State of Wyoming lifted its holdings in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after purchasing an additional 4,295 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after buying an additional 3,707 shares during the period. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics in the 2nd quarter valued at $68,000. Jain Global LLC bought a new position in Entrada Therapeutics in the 3rd quarter worth $69,000. Finally, IHT Wealth Management LLC acquired a new position in Entrada Therapeutics during the 2nd quarter worth $72,000. Institutional investors own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TRDA has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Guggenheim decreased their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Roth Capital set a $10.00 price target on shares of Entrada Therapeutics in a report on Friday, May 8th. Finally, HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.50.

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.