Entrada Therapeutics (NASDAQ:TRDA) Stock Rating Upgraded by Wall Street Zen

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages also recently issued reports on TRDA. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. Roth Mkm set a $13.00 price target on Entrada Therapeutics in a research report on Thursday, November 6th. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Oppenheimer began coverage on shares of Entrada Therapeutics in a research note on Wednesday, January 28th. They set an “outperform” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $11.93 on Friday. Entrada Therapeutics has a one year low of $4.93 and a one year high of $12.93. The company has a 50-day simple moving average of $10.90 and a 200-day simple moving average of $8.45. The firm has a market capitalization of $455.96 million, a P/E ratio of -3.45 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 37.91%. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. As a group, sell-side analysts forecast that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Entrada Therapeutics by 41.1% in the 4th quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock worth $422,000 after purchasing an additional 11,958 shares in the last quarter. XTX Topco Ltd grew its position in Entrada Therapeutics by 26.4% in the fourth quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock worth $1,210,000 after buying an additional 24,589 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Entrada Therapeutics by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after buying an additional 90,339 shares in the last quarter. Sphera Funds Management LTD. bought a new position in shares of Entrada Therapeutics in the fourth quarter valued at $1,140,000. Finally, Quadrature Capital Ltd lifted its position in shares of Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock valued at $209,000 after acquiring an additional 2,424 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.