Entrada Therapeutics (NASDAQ:TRDA) Stock Gets Downgrade from Wall Street Zen

Entrada Therapeutics (NASDAQ:TRDA) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Roth Capital restated a “buy” rating and set a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. HC Wainwright reissued a “neutral” rating on shares of Entrada Therapeutics in a research note on Monday, October 19th. Weiss Ratings cut Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Finally, UBS Group reissued a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Entrada Therapeutics has an average rating of “Hold” and a consensus target price of $17.75.

Entrada Therapeutics Price Performance

TRDA stock opened at $5.11 on Friday. Entrada Therapeutics has a twelve month low of $4.11 and a twelve month high of $16.45. The business’s fifty day moving average is $6.00 and its 200-day moving average is $8.70.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The company had revenue of $0.90 million for the quarter, compared to analyst estimates 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 research analysts forecast that Entrada Therapeutics will post -4.03 EPS for the current year.

Insider Buying and Selling at Entrada Therapeutics

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $7.13, for a total value of $205,607.81. Following the sale, the insider owned 3,885,115 shares of the company’s stock, valued at approximately $27,700,869.95. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value of $102,857.14. Following the completion of the sale, the insider directly owned 4,318,348 shares in the company, valued at approximately $30,487,536.88. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 714,013 shares of company stock worth $5,111,237 over the last quarter. Company insiders own 9.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new stake in shares of Entrada Therapeutics during the 2nd quarter worth approximately $37,000. ADAR1 Capital Management LLC acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at approximately $114,000. Deutsche Bank AG bought a new position in shares of Entrada Therapeutics in the second quarter valued at $195,000. Ieq Capital LLC bought a new position in shares of Entrada Therapeutics in the second quarter valued at $218,000. Finally, Odyssean LLC bought a new position in shares of Entrada Therapeutics in the second quarter valued at $230,000. 86.39% of the stock is currently owned by institutional investors.

About Entrada Therapeutics

Entrada Therapeutics, Inc (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.

Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.