Brokerages Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) Price Target at $20.67

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.6667.

Several equities analysts recently issued reports on TRDA shares. Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th. Roth Capital set a $13.00 price target on shares of Entrada Therapeutics in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Entrada Therapeutics in a report on Wednesday, October 8th.

Entrada Therapeutics Stock Up 2.3%

TRDA opened at $10.12 on Friday. The stock has a market cap of $386.79 million, a P/E ratio of -4.06 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 company has a fifty day simple moving average of $6.82 and a 200 day simple moving average of $6.70.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. On average, equities research analysts expect that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Entrada Therapeutics

In other 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 value of $1,760,000.00. Following the sale, the director directly owned 2,963,066 shares in the company, valued at $26,074,980.80. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kory James Wentworth sold 8,910 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $9.98, for a total value of $88,921.80. Following the transaction, the chief financial officer owned 110,026 shares of the company’s stock, valued at approximately $1,098,059.48. The trade was a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 178,044 shares of company stock worth $1,352,568 and sold 408,910 shares worth $3,608,922. 7.59% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently made changes to their positions in the business. Merck & Co. Inc. bought a new position in Entrada Therapeutics in the first quarter valued at $15,728,000. Millennium Management LLC boosted its stake in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after buying an additional 666,287 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Entrada Therapeutics by 234.5% during the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after buying an additional 235,384 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Entrada Therapeutics by 115.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after acquiring an additional 154,143 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Entrada Therapeutics by 4,767.4% in the third quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock valued at $860,000 after acquiring an additional 145,167 shares during the last quarter. 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.