Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Average Price Target of $17.75

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.75.

TRDA has been the topic of several recent analyst reports. Roth Capital reissued a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Weiss Ratings lowered Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. HC Wainwright restated a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday. Finally, UBS Group reaffirmed a “neutral” rating on shares of Entrada Therapeutics in a research note on Monday.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $4.73 on Friday. The company’s fifty day moving average is $6.39 and its two-hundred day moving average is $7.69. Entrada Therapeutics has a 12-month low of $4.11 and a 12-month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The business had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. On average, equities research analysts forecast that Entrada Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total transaction of $205,607.81. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total transaction of $102,857.14. Following the transaction, the insider directly owned 4,318,348 shares in the company, valued at $30,487,536.88. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 946,961 shares of company stock valued at $6,725,291 over the last three months. 9.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Entrada Therapeutics

A number of institutional investors have recently modified their holdings of TRDA. 5AM Venture Management LLC purchased a new position in shares of Entrada Therapeutics during the 2nd quarter valued at $29,854,949. BlackRock Inc. acquired a new position in shares of Entrada Therapeutics in the second quarter worth $19,013,000. Dimensional Fund Advisors LP raised its holdings in shares of Entrada Therapeutics by 18.7% during the first quarter. Dimensional Fund Advisors LP now owns 324,471 shares of the company’s stock worth $4,092,000 after acquiring an additional 51,093 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Entrada Therapeutics during the second quarter worth $2,212,232. Finally, GSA Capital Partners LLP purchased a new stake in shares of Entrada Therapeutics during the second quarter worth $648,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines that address diseases caused by genetic abnormalities. The company’s research centers on its proprietary Endosomal Escape Vehicle (EEV) platform, which is designed to transport therapeutic cargo into cells and release it from endosomes, potentially enabling treatment of targets that have been difficult to reach with conventional drug-delivery approaches.

Entrada is developing EEV-based therapeutics using modalities such as oligonucleotides, including compounds intended to modify RNA or influence gene expression.