Entrada Therapeutics (NASDAQ:TRDA) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Entrada Therapeutics (NASDAQ:TRDA) from a hold rating to a sell rating in a research note published on Saturday.

A number of other analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Oppenheimer began coverage on Entrada Therapeutics in a research note on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price target on the stock. Finally, Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Entrada Therapeutics Trading Down 3.1%

Shares of TRDA stock opened at $11.93 on Friday. The company has a market capitalization of $456.68 million, a price-to-earnings ratio of -3.45 and a beta of -0.12. The firm has a 50-day moving average price of $11.64 and a 200 day moving average price of $9.42. Entrada Therapeutics has a twelve month low of $4.93 and a twelve month high of $13.65.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.38. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. As a group, research analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Nathan J. Dowden sold 11,894 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the completion of the sale, the chief operating officer directly owned 198,588 shares in the company, valued at approximately $2,591,573.40. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kory James Wentworth sold 11,388 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total transaction of $148,271.76. Following the transaction, the chief financial officer directly owned 121,510 shares in the company, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 39,475 shares of company stock valued at $508,069. 8.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Entrada Therapeutics by 41.1% in the fourth quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock valued at $422,000 after acquiring an additional 11,958 shares during the last quarter. XTX Topco Ltd increased its stake in Entrada Therapeutics by 26.4% during the fourth quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock worth $1,210,000 after acquiring an additional 24,589 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock worth $10,740,000 after purchasing an additional 90,339 shares during the period. Sphera Funds Management LTD. purchased a new position in shares of Entrada Therapeutics in the 4th quarter worth about $1,140,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock valued at $209,000 after purchasing an additional 2,424 shares in the last quarter. 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.