Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Consensus Price Target of $17.75 According to Brokerages

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.75.

A number of brokerages have recently commented on TRDA. Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Roth Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Guggenheim lowered their price target on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Finally, Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th.

Entrada Therapeutics Price Performance

Shares of TRDA opened at $6.26 on Wednesday. The firm has a fifty day moving average price of $6.91 and a 200 day moving average price of $8.54. Entrada Therapeutics has a 1-year low of $5.55 and a 1-year high of $16.45. The stock has a market cap of $243.76 million, a PE ratio of -1.58 and a beta of -0.25.

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

Insider Activity

In other news, Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction that occurred on 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 director owned 2,848,310 shares in the company, valued at $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the insider directly owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 946,961 shares of company stock valued at $6,725,291. Company insiders own 9.49% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Odyssean LLC acquired a new position in Entrada Therapeutics during the second quarter worth $230,000. Nantahala Capital Management LLC purchased a new position in shares of Entrada Therapeutics in the second quarter valued at $2,212,232. Public Employees Retirement System of Ohio purchased a new position in shares of Entrada Therapeutics in the second quarter valued at $276,000. Bank of America Corp DE acquired a new position in shares of Entrada Therapeutics during the 2nd quarter worth $426,000. Finally, 5AM Venture Management LLC acquired a new position in shares of Entrada Therapeutics during the 2nd quarter worth $29,854,949. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines designed to address diseases caused by dysfunctional proteins inside cells. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic molecules into target cells and help them escape endosomes, cellular compartments that can limit the activity of certain treatments.

Entrada is applying the EEV platform to oligonucleotide-based medicines, including compounds designed to modify RNA and influence the production of disease-associated proteins.