Analysts Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) PT at $25.67

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.6667.

Several equities research analysts have issued reports on TRDA shares. Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research note on Tuesday, May 20th. Finally, Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th.

Entrada Therapeutics Trading Up 0.4%

Entrada Therapeutics stock opened at $5.27 on Friday. The stock has a 50-day moving average price of $6.61 and a 200 day moving average price of $8.68. Entrada Therapeutics has a 52 week low of $4.93 and a 52 week high of $21.79. The stock has a market cap of $200.47 million, a PE ratio of -2.96 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.18). The firm had revenue of $1.98 million during the quarter, compared to analyst estimates of $8.17 million. Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. On average, equities analysts predict that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Buying and Selling at Entrada Therapeutics

In other news, Director Kush Parmar sold 27,000 shares of the company’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $202,500.00. Following the completion of the sale, the director owned 1,093,313 shares in the company, valued at $8,199,847.50. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $52,012.50. Following the sale, the insider directly owned 1,093,313 shares in the company, valued at $8,199,847.50. This trade represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,000 shares of company stock valued at $1,782,000. Insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRDA. Man Group plc bought a new stake in shares of Entrada Therapeutics during the 2nd quarter worth about $113,000. IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at $72,000. Bank of America Corp DE raised its stake in shares of Entrada Therapeutics by 35.6% in the second quarter. Bank of America Corp DE now owns 36,473 shares of the company’s stock valued at $245,000 after purchasing an additional 9,571 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Entrada Therapeutics by 9.6% in the second quarter. Ameriprise Financial Inc. now owns 44,946 shares of the company’s stock valued at $302,000 after purchasing an additional 3,923 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Entrada Therapeutics during the 2nd quarter worth approximately $344,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

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.