Research Analysts Issue Forecasts for Entrada Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:TRDA)

Entrada Therapeutics, Inc. (NASDAQ:TRDA) – William Blair increased their Q2 2024 earnings estimates for shares of Entrada Therapeutics in a note issued to investors on Tuesday, May 7th. William Blair analyst M. Minter now forecasts that the company will earn $0.77 per share for the quarter, up from their prior forecast of ($0.61). The consensus estimate for Entrada Therapeutics’ current full-year earnings is ($1.54) per share. William Blair also issued estimates for Entrada Therapeutics’ Q3 2024 earnings at ($0.84) EPS, Q4 2024 earnings at ($0.87) EPS, FY2024 earnings at ($0.27) EPS, Q1 2025 earnings at ($0.90) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.98) EPS, Q4 2025 earnings at ($0.83) EPS and FY2025 earnings at ($3.65) EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research note on Monday, March 18th.

Entrada Therapeutics Stock Up 1.2 %

Shares of TRDA opened at $14.05 on Thursday. The business’s fifty day moving average is $13.02 and its 200 day moving average is $14.19. Entrada Therapeutics has a 12-month low of $10.62 and a 12-month high of $18.44. The stock has a market cap of $473.20 million, a P/E ratio of -54.04 and a beta of -0.38.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.22). The firm had revenue of $41.85 million during the quarter, compared to the consensus estimate of $27.82 million. Entrada Therapeutics had a negative return on equity of 2.89% and a negative net margin of 5.18%.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in shares of Entrada Therapeutics during the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at $44,000. Tower Research Capital LLC TRC raised its stake in shares of Entrada Therapeutics by 476.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the company’s stock worth $87,000 after purchasing an additional 4,777 shares during the period. SG Americas Securities LLC purchased a new position in shares of Entrada Therapeutics in the 3rd quarter worth about $145,000. Finally, Strs Ohio grew its position in Entrada Therapeutics by 792.6% during the fourth quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $363,000 after buying an additional 21,400 shares during the period. Institutional investors own 86.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter S. Kim bought 2,600 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average price of $13.57 per share, with a total value of $35,282.00. Following the completion of the transaction, the director now directly owns 62,936 shares in the company, valued at $854,041.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Peter S. Kim bought 3,180 shares of the stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $13.36 per share, for a total transaction of $42,484.80. Following the completion of the acquisition, the director now directly owns 56,074 shares in the company, valued at approximately $749,148.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter S. Kim purchased 2,600 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $13.57 per share, for a total transaction of $35,282.00. Following the completion of the acquisition, the director now owns 62,936 shares of the company’s stock, valued at approximately $854,041.52. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 8,896 shares of company stock valued at $119,272. Corporate insiders own 7.58% of the company’s stock.

About Entrada Therapeutics

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.