Entrada Therapeutics (NASDAQ:TRDA) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Entrada Therapeutics (NASDAQ:TRDA) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on TRDA. Weiss Ratings upgraded shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Guggenheim dropped their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Roth Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Finally, HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Entrada Therapeutics Trading Down 0.6%

Shares of TRDA stock opened at $7.13 on Friday. Entrada Therapeutics has a twelve month low of $5.02 and a twelve month high of $16.45. The stock has a market cap of $277.62 million, a P/E ratio of -1.80 and a beta of -0.25. The stock has a 50 day moving average of $7.06 and a 200 day moving average of $9.19.

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

Insider Activity

In other news, Director Kush Parmar sold 92,444 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $7.00, for a total transaction of $647,108.00. Following the transaction, the director owned 2,691,337 shares in the company, valued at $18,839,359. This trade represents a 3.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71. Following the completion of the sale, the insider directly owned 4,144,952 shares in the company, valued at $29,719,305.84. This represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 687,124 shares of company stock worth $4,819,524 over the last three months. 9.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of large investors have recently added to or reduced their stakes in TRDA. State of Wyoming acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at about $37,000. Russell Investments Group Ltd. raised its position in shares of Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $68,000. Jain Global LLC purchased a new position in Entrada Therapeutics in the 3rd quarter valued at about $69,000. Finally, IHT Wealth Management LLC purchased a new position in Entrada Therapeutics in the 2nd quarter valued at about $72,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

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.