Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

TRDA has been the topic of a number of recent analyst reports. Roth Mkm set a $13.00 price objective on shares of Entrada Therapeutics in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Guggenheim set a $20.00 price objective on Entrada Therapeutics and gave the stock a “buy” rating in a report on Tuesday. Finally, Oppenheimer initiated coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price target for the company.

Entrada Therapeutics Price Performance

TRDA stock traded up $0.27 during trading hours on Tuesday, reaching $10.82. The stock had a trading volume of 210,898 shares, compared to its average volume of 245,044. The stock has a market capitalization of $413.53 million, a PE ratio of -4.35 and a beta of -0.12. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $13.82. The stock has a 50-day simple moving average of $10.73 and a 200 day simple moving average of $7.95.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 200,000 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the transaction, the director directly owned 2,963,066 shares in the company, valued at $26,074,980.80. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bros. Advisors Lp Baker purchased 100,736 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $7.76 per share, with a total value of $781,711.36. Following the completion of the purchase, the insider owned 4,664,924 shares of the company’s stock, valued at $36,199,810.24. This represents a 2.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 408,910 shares of company stock valued at $3,608,922. Company insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors have recently modified their holdings of TRDA. Russell Investments Group Ltd. boosted its stake in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after buying an additional 3,707 shares during the last quarter. State of Wyoming raised its position in shares of Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after acquiring an additional 4,295 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at about $67,000. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics in the 2nd quarter valued at about $68,000. Finally, Inscription Capital LLC purchased a new position in Entrada Therapeutics during the third quarter worth about $69,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.