Brokerages Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) PT at $17.75

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.75.

TRDA has been the topic of several recent analyst reports. HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Guggenheim reduced their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday.

Entrada Therapeutics Stock Up 3.3%

Shares of NASDAQ:TRDA opened at $7.30 on Friday. The business has a fifty day moving average of $7.08 and a two-hundred day moving average of $9.23. The stock has a market cap of $284.24 million, a P/E ratio of -1.84 and a beta of -0.25. Entrada Therapeutics has a 52-week low of $5.02 and a 52-week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. On average, equities analysts anticipate that Entrada Therapeutics will post -4.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the sale, the insider directly owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kush Parmar sold 114,756 shares of the business’s stock in a transaction dated 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 sale, the director owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 600,642 shares of company stock valued at $4,202,145. 9.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new position in Entrada Therapeutics in the second quarter worth approximately $37,000. Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 72.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at approximately $68,000. IHT Wealth Management LLC acquired a new stake in Entrada Therapeutics during the 2nd quarter worth $72,000. Finally, Jain Global LLC acquired a new stake in shares of Entrada Therapeutics during the third quarter worth about $69,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.