Entrada Therapeutics (NASDAQ:TRDA) Shares Up 1.1% – Here’s Why

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shot up 1.1% during trading on Thursday . The company traded as high as $7.49 and last traded at $7.40. Approximately 603,163 shares changed hands during trading, an increase of 96% from the average daily volume of 308,410 shares. The stock had previously closed at $7.32.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRDA. Oppenheimer upped their target price on Entrada Therapeutics from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Cantor Fitzgerald assumed coverage on Entrada Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating on the stock. HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Roth Capital set a $10.00 price objective on Entrada Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings lowered Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Entrada Therapeutics presently has a consensus rating of “Hold” and an average price target of $17.50.

Entrada Therapeutics Trading Up 1.1%

The firm has a market capitalization of $287.28 million, a P/E ratio of -1.85 and a beta of -0.26. The business’s fifty day moving average is $7.48 and its 200 day moving average is $10.27.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.11. The firm had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $2.92 million. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. As a group, sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, Director Bernhardt G. Zeiher acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $5.86 per share, for a total transaction of $29,300.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $29,300. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nathan J. Dowden sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $15.33, for a total transaction of $229,950.00. Following the transaction, the chief operating officer directly owned 198,588 shares in the company, valued at $3,044,354.04. The trade was a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRDA. Allspring Global Investments Holdings LLC grew its stake in shares of Entrada Therapeutics by 9.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,495 shares of the company’s stock valued at $176,000 after buying an additional 1,560 shares in the last quarter. Alliancebernstein L.P. increased its position in Entrada Therapeutics by 7.1% during the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after buying an additional 1,620 shares during the last quarter. Great Lakes Advisors LLC increased its position in Entrada Therapeutics by 5.5% during the fourth quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock worth $445,000 after buying an additional 2,239 shares during the last quarter. Quadrature Capital Ltd raised its holdings in Entrada Therapeutics by 13.5% during the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock valued at $209,000 after buying an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Entrada Therapeutics by 3.6% during the second quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock valued at $505,000 after buying an additional 2,631 shares in the last quarter. 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.