Entrada Therapeutics (NASDAQ:TRDA) Stock Price Up 7% – What’s Next?

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) rose 7% on Monday . The company traded as high as $7.49 and last traded at $7.31. Approximately 340,267 shares traded hands during trading, an increase of 93% from the average daily volume of 176,367 shares. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRDA shares. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Entrada Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Entrada Therapeutics Price Performance

The business has a 50 day moving average price of $5.74 and a 200 day moving average price of $6.78. The stock has a market capitalization of $278.07 million, a PE ratio of -4.11 and a beta of -0.11.

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

Institutional Investors Weigh In On Entrada Therapeutics

A number of institutional investors have recently made changes to their positions in the company. State of Wyoming boosted its stake in Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Entrada Therapeutics during the 2nd quarter valued at $68,000. IHT Wealth Management LLC purchased a new stake in shares of Entrada Therapeutics during the second quarter valued at $72,000. Virtus Investment Advisers LLC boosted its position in shares of Entrada Therapeutics by 32.1% during the second quarter. Virtus Investment Advisers LLC now owns 11,979 shares of the company’s stock valued at $80,000 after buying an additional 2,914 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Entrada Therapeutics during the first quarter valued at $101,000. Hedge funds and other institutional investors own 86.39% 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.