Entrada Therapeutics (NASDAQ:TRDA) Now Covered by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a report released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $21.00 target price on the stock.

TRDA has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. Roth Mkm set a $13.00 target price on shares of Entrada Therapeutics in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Entrada Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Entrada Therapeutics Price Performance

NASDAQ:TRDA opened at $11.15 on Wednesday. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $14.27. The stock has a market capitalization of $426.15 million, a PE ratio of -4.48 and a beta of -0.12. The business’s 50-day simple moving average is $10.55 and its 200-day simple moving average is $7.68.

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

Insiders Place Their Bets

In related news, CFO Kory James Wentworth sold 8,910 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 110,026 shares of the company’s stock, valued at $1,098,059.48. The trade was a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Bros. Advisors Lp Baker bought 100,736 shares of the stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $7.76 per share, for a total transaction of $781,711.36. Following the completion of the transaction, the insider directly owned 4,664,924 shares of the company’s stock, valued at $36,199,810.24. This trade represents a 2.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 178,044 shares of company stock worth $1,352,568 and have sold 408,910 shares worth $3,608,922. Corporate insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its position in Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after buying an additional 666,287 shares during the last quarter. Geode Capital Management LLC grew its holdings in Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after purchasing an additional 42,479 shares during the period. Royce & Associates LP raised its stake in shares of Entrada Therapeutics by 54.8% in the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock valued at $2,004,000 after buying an additional 122,256 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Entrada Therapeutics by 234.5% in the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after acquiring an additional 235,384 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Entrada Therapeutics by 43.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 315,810 shares of the company’s stock worth $1,832,000 after purchasing an additional 95,074 shares during the period. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

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.