Oppenheimer Issues Positive Forecast for Entrada Therapeutics (NASDAQ:TRDA) Stock Price

Entrada Therapeutics (NASDAQ:TRDA) had its target price boosted by Oppenheimer from $21.00 to $23.00 in a research report report published on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also recently commented on TRDA. Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating on the stock. Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Entrada Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Entrada Therapeutics Stock Up 5.6%

Entrada Therapeutics stock opened at $13.88 on Monday. Entrada Therapeutics has a 52 week low of $4.93 and a 52 week high of $14.00. The company’s 50 day moving average price is $11.85 and its two-hundred day moving average price is $9.78. The stock has a market cap of $531.38 million, a P/E ratio of -4.01 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping 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 39.83%. The firm had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $7.41 million. On average, equities analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Activity at Entrada Therapeutics

In other news, COO Nathan J. Dowden sold 11,894 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total transaction of $155,216.70. Following the completion of the sale, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. This trade represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kory James Wentworth sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total transaction of $32,375.00. Following the sale, the chief financial officer owned 119,010 shares of the company’s stock, valued at approximately $1,541,179.50. The trade was a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 41,975 shares of company stock valued at $540,444. 8.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRDA. State of Wyoming grew its stake in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after buying an additional 4,295 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Entrada Therapeutics by 72.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares in the last quarter. AXQ Capital LP purchased a new position in Entrada Therapeutics in the 3rd quarter valued at approximately $67,000. Occudo Quantitative Strategies LP purchased a new position in Entrada Therapeutics in the 2nd quarter valued at approximately $68,000. Finally, Inscription Capital LLC purchased a new position in Entrada Therapeutics in the 3rd quarter valued at approximately $69,000. 86.39% of the stock is currently owned by hedge funds and other 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.