Entrada Therapeutics (NASDAQ:TRDA) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $21.00 price objective on the stock.

Several other analysts have also issued reports on the stock. Roth Mkm set a $13.00 price target on shares of Entrada Therapeutics in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Entrada Therapeutics currently has a consensus rating of “Hold” and an average target price of $18.00.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA opened at $11.44 on Wednesday. The stock has a 50 day moving average price of $10.63 and a 200 day moving average price of $7.74. The stock has a market capitalization of $437.24 million, a PE ratio of -4.59 and a beta of -0.12. Entrada Therapeutics has a 52 week low of $4.93 and a 52 week high of $14.27.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.02). The company had revenue of $1.61 million for the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%. As a group, research analysts forecast that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Activity at Entrada Therapeutics

In related news, major shareholder Ventures V. L.P. 5Am sold 200,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $8.80, for a total value of $1,760,000.00. Following the transaction, the insider owned 2,963,066 shares in the company, valued at approximately $26,074,980.80. This represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bros. Advisors Lp Baker purchased 100,736 shares of the stock in a transaction on Wednesday, November 12th. The stock was bought at an average cost of $7.76 per share, for a total transaction of $781,711.36. Following the completion of the acquisition, the insider owned 4,664,924 shares in the company, valued at approximately $36,199,810.24. This trade represents a 2.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 178,044 shares of company stock worth $1,352,568 and sold 408,910 shares worth $3,608,922. Company insiders own 8.11% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. State of Wyoming boosted its stake in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 72.7% during the third 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 in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Entrada Therapeutics in the second quarter valued at about $68,000. IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at about $72,000. Finally, AXQ Capital LP acquired a new position in shares of Entrada Therapeutics in the third quarter valued at about $67,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.