Entrada Therapeutics (NASDAQ:TRDA) Releases Quarterly Earnings Results, Beats Expectations By $0.69 EPS

Entrada Therapeutics (NASDAQ:TRDA) issued its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.69, Zacks reports. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. The business had revenue of $12.25 million for the quarter, compared to analyst estimates of $11.95 million.

Entrada Therapeutics Trading Down 0.3 %

NASDAQ:TRDA opened at $11.98 on Friday. The stock has a 50 day moving average of $14.40 and a 200-day moving average of $16.26. The firm has a market capitalization of $448.29 million, a PE ratio of 7.53 and a beta of -0.17. Entrada Therapeutics has a 52 week low of $11.35 and a 52 week high of $21.79.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer now owns 73,849 shares in the company, valued at approximately $1,476,980. This trade represents a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the transaction, the insider now owns 4,402,849 shares of the company’s stock, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Entrada Therapeutics in a report on Tuesday. Roth Mkm began coverage on Entrada Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Oppenheimer lifted their price objective on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.