Entrada Therapeutics (NASDAQ:TRDA) Hits New 1-Year High – Time to Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares hit a new 52-week high on Tuesday . The stock traded as high as $13.20 and last traded at $13.07, with a volume of 137618 shares changing hands. The stock had previously closed at $12.70.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Wall Street Zen raised shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.50.

Entrada Therapeutics Stock Up 4.0%

The company’s 50-day moving average is $11.10 and its two-hundred day moving average is $8.78. The company has a market capitalization of $505.73 million, a P/E ratio of -3.82 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.38. The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. On average, sell-side analysts predict that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Insider Transactions at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 7,988 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $12.25, for a total value of $97,853.00. Following the completion of the transaction, the chief financial officer directly owned 137,987 shares in the company, valued at approximately $1,690,340.75. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.59% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

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

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.