Entrada Therapeutics’ (TRDA) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report sent to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

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

Entrada Therapeutics Price Performance

NASDAQ TRDA opened at $11.04 on Wednesday. The stock has a market capitalization of $421.95 million, a price-to-earnings ratio of -4.43 and a beta of -0.12. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $13.82. The business’s fifty day moving average price is $10.81 and its 200-day moving average price is $8.17.

Insider Buying and Selling

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 8,910 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $9.98, for a total value of $88,921.80. Following the completion of the transaction, the chief financial officer directly owned 110,026 shares in the company, valued at $1,098,059.48. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRDA. AlphaQuest LLC lifted its holdings in shares of Entrada Therapeutics by 239.8% in the second quarter. AlphaQuest LLC now owns 39,625 shares of the company’s stock worth $266,000 after buying an additional 27,963 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Entrada Therapeutics in the 2nd quarter valued at $166,000. Los Angeles Capital Management LLC lifted its stake in Entrada Therapeutics by 60.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 44,632 shares of the company’s stock worth $300,000 after purchasing an additional 16,840 shares in the last quarter. Corton Capital Inc. bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at about $193,000. Finally, Intech Investment Management LLC grew its position in shares of Entrada Therapeutics by 15.7% during the second quarter. Intech Investment Management LLC now owns 17,702 shares of the company’s stock valued at $119,000 after purchasing an additional 2,397 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.