Brokerages Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) Target Price at $18.50
by Sarita Garza · The Markets DailyShares of Entrada Therapeutics, Inc. (NASDAQ:TRDA – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.50.
Several research firms have recently issued reports on TRDA. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Cantor Fitzgerald initiated coverage on shares of Entrada Therapeutics in a research report on Wednesday. They set an “overweight” rating for the company. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Oppenheimer assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price target on the stock.
Get Our Latest Stock Analysis on TRDA
Entrada Therapeutics Price Performance
NASDAQ TRDA opened at $13.15 on Wednesday. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $13.66. The company has a market capitalization of $503.43 million, a P/E ratio of -3.80 and a beta of -0.15. The business has a 50 day moving average price of $11.80 and a 200 day moving average price of $9.66.
Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, research analysts expect that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Kory James Wentworth sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total value of $32,375.00. Following the sale, the chief financial officer owned 119,010 shares of the company’s stock, valued at approximately $1,541,179.50. This represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction 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 sale, the chief operating officer owned 198,588 shares in the company, valued at approximately $2,591,573.40. This trade represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,975 shares of company stock worth $540,444. 8.11% of the stock is owned by corporate insiders.
Institutional Trading of Entrada Therapeutics
A number of large investors have recently made changes to their positions in TRDA. State of Wyoming raised its stake in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares during the last quarter. Russell Investments Group Ltd. boosted its stake 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. AXQ Capital LP purchased a new stake in shares of Entrada Therapeutics during the third quarter worth about $67,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Entrada Therapeutics during the second quarter worth about $68,000. Finally, Inscription Capital LLC acquired a new position in shares of Entrada Therapeutics in the third quarter valued at approximately $69,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
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.