Guggenheim Upgrades Entrada Therapeutics (NASDAQ:TRDA) to “Strong-Buy”

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by Guggenheim to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on TRDA. Roth Mkm set a $13.00 target price on Entrada Therapeutics in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. Finally, Oppenheimer initiated coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Entrada Therapeutics Trading Down 2.4%

TRDA stock opened at $10.80 on Wednesday. The stock has a market cap of $412.78 million, a PE ratio of -4.34 and a beta of -0.12. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $13.82. The company has a 50-day moving average price of $10.78 and a 200 day moving average price of $8.02.

Insider Activity

In other news, CFO Kory James Wentworth sold 8,910 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $9.98, for a total transaction 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. This represents a 7.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming increased its position in Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after purchasing an additional 3,707 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Entrada Therapeutics during the second quarter valued at approximately $68,000. IHT Wealth Management LLC bought a new position in Entrada Therapeutics in the second quarter worth approximately $72,000. Finally, AXQ Capital LP purchased a new stake in Entrada Therapeutics during the third quarter worth $67,000. 86.39% of the stock is currently owned by institutional investors.

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.