Entrada Therapeutics (NASDAQ:TRDA) Stock Rating Lowered by Wall Street Zen
by Michael Walen · The Markets DailyEntrada Therapeutics (NASDAQ:TRDA – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Several other equities research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Oppenheimer started coverage on Entrada Therapeutics in a report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price objective on the stock. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Entrada Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.
Check Out Our Latest Analysis on Entrada Therapeutics
Entrada Therapeutics Price Performance
Shares of TRDA stock opened at $11.93 on Friday. Entrada Therapeutics has a 12-month low of $4.93 and a 12-month high of $13.65. The firm 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 fifty day moving average of $11.64 and a 200-day moving average of $9.45.
Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.38. The business 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%. Research analysts expect that Entrada Therapeutics will post 1.12 earnings per share for the current year.
Insider Activity
In related news, CFO Kory James Wentworth sold 11,388 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total value of $148,271.76. Following the sale, the chief financial officer owned 121,510 shares of the company’s stock, valued at approximately $1,582,060.20. This trade represents a 8.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owned 198,588 shares in the company, valued at $2,591,573.40. The trade was a 5.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,475 shares of company stock worth $508,069 in the last three months. Company insiders own 7.59% of the company’s stock.
Hedge Funds Weigh In On Entrada Therapeutics
Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Entrada Therapeutics by 41.1% in the fourth quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock worth $422,000 after purchasing an additional 11,958 shares in the last quarter. XTX Topco Ltd grew its position in Entrada Therapeutics by 26.4% in the fourth quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock valued at $1,210,000 after purchasing an additional 24,589 shares in the last quarter. Wellington Management Group LLP increased its stake in Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after buying an additional 90,339 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in Entrada Therapeutics in the 4th quarter valued at $1,140,000. Finally, Quadrature Capital Ltd lifted its position in Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares in the last quarter. 86.39% of the stock is owned by institutional investors.
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.