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

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been given a consensus rating of “Buy” by the five brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.6667.

A number of brokerages recently weighed in on TRDA. Zacks Research upgraded shares of Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. Finally, Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

Entrada Therapeutics Trading Up 2.1%

Shares of TRDA stock opened at $5.33 on Tuesday. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $21.79. The stock has a market cap of $202.75 million, a P/E ratio of -2.99 and a beta of -0.13. The company has a 50 day simple moving average of $5.91 and a two-hundred day simple moving average of $7.74.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Wednesday, August 6th. The company reported ($1.04) earnings per share (EPS) 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 analysts’ expectations of $8.17 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%. As a group, equities analysts forecast that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Transactions at Entrada Therapeutics

In other news, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $6.91, for a total value of $385,128.85. Following the completion of the sale, the insider owned 3,220,287 shares in the company, valued at approximately $22,252,183.17. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kush Parmar sold 75,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $6.91, for a total transaction of $518,250.00. Following the transaction, the director owned 1,113,092 shares in the company, valued at approximately $7,691,465.72. This represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,000 shares of company stock worth $1,782,000 in the last three months. Insiders own 8.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Merck & Co. Inc. bought a new stake in Entrada Therapeutics during the first quarter valued at about $15,728,000. Janus Henderson Group PLC lifted its position in shares of Entrada Therapeutics by 21.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company’s stock valued at $36,011,000 after buying an additional 368,908 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Entrada Therapeutics by 127.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,006 shares of the company’s stock valued at $3,752,000 after buying an additional 121,598 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Entrada Therapeutics by 435.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 133,730 shares of the company’s stock valued at $899,000 after buying an additional 108,737 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Entrada Therapeutics by 28.5% in the 4th quarter. Northern Trust Corp now owns 318,177 shares of the company’s stock worth $5,501,000 after buying an additional 70,497 shares during the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

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.