Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives Average Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Entrada Therapeutics, Inc. (NASDAQ:TRDA – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.6667.

A number of brokerages have recently weighed in on TRDA. Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a research report on Wednesday, October 8th. Finally, Roth Capital set a $13.00 price target on shares of Entrada Therapeutics in a research note on Thursday, November 6th.

View Our Latest Report on TRDA

Entrada Therapeutics Trading Down 0.4%

Shares of TRDA opened at $10.08 on Friday. The firm has a market cap of $385.26 million, a PE ratio of -4.05 and a beta of -0.08. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $21.79. The stock has a fifty day moving average price of $7.01 and a 200-day moving average price of $6.74.

Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.02). Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The business had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $8.62 million. As a group, research analysts forecast that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 200,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the sale, the director owned 2,963,066 shares in the company, valued at approximately $26,074,980.80. The trade was a 6.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bros. Advisors Lp Baker acquired 100,736 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average cost of $7.76 per share, for a total transaction of $781,711.36. Following the completion of the acquisition, the insider directly owned 4,664,924 shares of the company’s stock, valued at approximately $36,199,810.24. This trade represents a 2.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 178,044 shares of company stock worth $1,352,568 and sold 408,910 shares worth $3,608,922. 8.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its stake in Entrada Therapeutics by 43.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 315,810 shares of the company’s stock valued at $1,832,000 after acquiring an additional 95,074 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Entrada Therapeutics during the third quarter worth $82,000. XTX Topco Ltd acquired a new position in Entrada Therapeutics during the third quarter valued at $540,000. Sherbrooke Park Advisers LLC purchased a new stake in Entrada Therapeutics in the third quarter valued at $108,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Entrada Therapeutics by 115.3% in the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after purchasing an additional 154,143 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

About Entrada Therapeutics

(Get Free Report)

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.

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