Entrada Therapeutics (NASDAQ:TRDA) Issues Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Entrada Therapeutics (NASDAQ:TRDA) posted its earnings results on Thursday. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.38, FiscalAI reports. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $7.41 million.

Entrada Therapeutics Stock Performance

Shares of Entrada Therapeutics stock traded up $0.81 during trading hours on Thursday, hitting $12.79. The company’s stock had a trading volume of 244,888 shares, compared to its average volume of 222,268. The company has a market cap of $488.82 million, a PE ratio of -5.14 and a beta of -0.12. The business has a 50 day moving average price of $10.85 and a two-hundred day moving average price of $8.37. Entrada Therapeutics has a 12-month low of $4.93 and a 12-month high of $12.88.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRDA. Invesco Ltd. grew its stake in Entrada Therapeutics by 41.1% during the fourth quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock valued at $422,000 after acquiring an additional 11,958 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Entrada Therapeutics by 26.4% during the 4th quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock valued at $1,210,000 after purchasing an additional 24,589 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Entrada Therapeutics by 9.5% during the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after purchasing an additional 90,339 shares in the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Entrada Therapeutics in the fourth quarter worth about $1,140,000. Finally, Quadrature Capital Ltd lifted its position in shares of Entrada Therapeutics by 13.5% in the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on TRDA shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Roth Mkm set a $13.00 price target on shares of Entrada Therapeutics in a report on Thursday, November 6th. Finally, Oppenheimer initiated coverage on shares of Entrada Therapeutics in a report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.50.

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.