Entrada Therapeutics (NASDAQ:TRDA) Price Target Raised to $23.00

Entrada Therapeutics (NASDAQ:TRDA) had its target price upped by Oppenheimer from $21.00 to $23.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Cantor Fitzgerald started coverage on shares of Entrada Therapeutics in a report on Wednesday, April 1st. They set an “overweight” rating on the stock. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Guggenheim upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Entrada Therapeutics has an average rating of “Moderate Buy” and an average target price of $19.00.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $14.32 on Monday. The firm has a market cap of $548.17 million, a PE ratio of -4.14 and a beta of -0.15. The firm’s fifty day moving average is $11.97 and its 200-day moving average is $9.87. Entrada Therapeutics has a 52 week low of $4.93 and a 52 week high of $14.36.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The company had revenue of $1.30 million for 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%. Sell-side analysts forecast that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Buying and Selling at Entrada Therapeutics

In related news, COO Nathan J. Dowden sold 11,894 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the transaction, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kory James Wentworth sold 11,388 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total transaction of $148,271.76. Following the completion of the transaction, the chief financial officer owned 121,510 shares in the company, valued at approximately $1,582,060.20. The trade was a 8.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,975 shares of company stock worth $540,444. 8.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Entrada Therapeutics by 41.1% in 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 lifted its holdings in Entrada Therapeutics by 26.4% in the fourth quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock valued at $1,210,000 after buying an additional 24,589 shares during the period. Wellington Management Group LLP raised its holdings 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 during the period. Sphera Funds Management LTD. acquired a new position in shares of Entrada Therapeutics during the fourth quarter valued at about $1,140,000. Finally, Quadrature Capital Ltd raised its holdings in shares of 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 purchasing an additional 2,424 shares during the period. Institutional investors and hedge funds 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.