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

Wall Street Zen cut shares of Entrada Therapeutics (NASDAQ:TRDA) from a hold rating to a sell rating in a research note published on Saturday.

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

Entrada Therapeutics Stock Performance

NASDAQ TRDA opened at $5.02 on Friday. The firm’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $8.91. The stock has a market cap of $190.96 million, a PE ratio of -2.82 and a beta of -0.12. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Wednesday, August 6th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.18). The company had revenue of $1.98 million for the quarter, compared to the consensus estimate of $8.17 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%. As a group, sell-side analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In related news, Director Kush Parmar sold 27,000 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total value of $202,500.00. Following the transaction, the director owned 1,093,313 shares in the company, valued at $8,199,847.50. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total transaction of $52,012.50. Following the completion of the transaction, the insider owned 1,093,313 shares in the company, valued at approximately $8,199,847.50. The trade was a 0.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,000 shares of company stock worth $1,782,000. 7.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Entrada Therapeutics by 21.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company’s stock valued at $36,011,000 after buying an additional 368,908 shares during the period. Merck & Co. Inc. acquired a new position in shares of Entrada Therapeutics during the first quarter valued at about $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 valued at $25,317,000 after purchasing an additional 241,052 shares during the period. 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 valued at $9,522,000 after purchasing an additional 21,488 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after purchasing an additional 42,479 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

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.