Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Average Recommendation of “Hold” by Brokerages

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.50.

TRDA has been the subject of a number of research reports. Oppenheimer boosted their price target on Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Roth Capital set a $10.00 target price on Entrada Therapeutics in a report on Friday, May 8th. Guggenheim dropped 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 report on Monday, June 8th. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th.

Entrada Therapeutics Stock Performance

Shares of TRDA stock opened at $7.26 on Tuesday. The firm has a market capitalization of $281.83 million, a price-to-earnings ratio of -1.82 and a beta of -0.26. Entrada Therapeutics has a one year low of $4.93 and a one year high of $16.45. The company has a 50 day moving average price of $6.84 and a 200 day moving average price of $9.82.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.11. The company 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, equities analysts forecast that Entrada Therapeutics will post -4.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ventures V. L.P. 5Am 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 value of $795,259.08. Following the completion of the sale, the insider 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kush Parmar sold 114,756 shares of the firm’s 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 completion of the transaction, the director directly owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 232,948 shares of company stock worth $1,614,055 over the last ninety days. 9.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP lifted its stake in shares of Entrada Therapeutics by 4.3% during the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock worth $52,148,000 after purchasing an additional 206,911 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Entrada Therapeutics by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after buying an additional 90,339 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after buying an additional 666,287 shares during the period. Geode Capital Management LLC raised its holdings in shares of Entrada Therapeutics by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after buying an additional 42,479 shares during the period. Finally, State Street Corp lifted its position in Entrada Therapeutics by 2.0% during the 4th quarter. State Street Corp now owns 508,789 shares of the company’s stock worth $5,230,000 after acquiring an additional 10,174 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.