Entrada Therapeutics (NASDAQ:TRDA) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Entrada Therapeutics (NASDAQ:TRDA) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Entrada Therapeutics Stock Down 2.4%

TRDA opened at $7.41 on Friday. The firm has a market cap of $281.23 million, a PE ratio of 4.66 and a beta of -0.06. The business has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $11.79. Entrada Therapeutics has a fifty-two week low of $7.10 and a fifty-two week high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.36. The business had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $10.98 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. On average, equities research analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of Entrada Therapeutics by 21.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company’s stock worth $36,011,000 after acquiring an additional 368,908 shares in the last quarter. Merck & Co. Inc. purchased a new stake in shares of Entrada Therapeutics during the first quarter worth $15,728,000. Vanguard Group Inc. raised its holdings in shares of Entrada Therapeutics by 19.7% during the fourth quarter. Vanguard Group Inc. now owns 1,464,237 shares of the company’s stock worth $25,317,000 after acquiring an additional 241,052 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Entrada Therapeutics by 2.1% during the first quarter. Wellington Management Group LLP now owns 1,053,314 shares of the company’s stock worth $9,522,000 after acquiring an additional 21,488 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Entrada Therapeutics by 28.5% during the fourth quarter. Northern Trust Corp now owns 318,177 shares of the company’s stock worth $5,501,000 after acquiring an additional 70,497 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.