Analysts Set Entrada Therapeutics, Inc. (NASDAQ:TRDA) PT at $18.50

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts have weighed in on TRDA shares. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Oppenheimer began coverage on Entrada Therapeutics in a report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Roth Mkm set a $13.00 target price on Entrada Therapeutics in a research note on Thursday, November 6th.

Insiders Place Their Bets

In other news, CFO Kory James Wentworth sold 8,910 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 110,026 shares of the company’s stock, valued at approximately $1,098,059.48. The trade was a 7.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after buying an additional 3,707 shares during the last quarter. State of Wyoming lifted its stake in Entrada Therapeutics by 130.9% during the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after purchasing an additional 4,295 shares during the last quarter. AXQ Capital LP acquired a new position in Entrada Therapeutics in the third quarter worth $67,000. Occudo Quantitative Strategies LP bought a new stake in Entrada Therapeutics during the second quarter valued at $68,000. Finally, Inscription Capital LLC acquired a new stake in shares of Entrada Therapeutics during the third quarter worth $69,000. 86.39% of the stock is owned by institutional investors.

Entrada Therapeutics Stock Up 0.7%

TRDA opened at $10.88 on Tuesday. The firm’s 50 day moving average is $10.79 and its 200-day moving average is $8.11. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $13.82. The firm has a market capitalization of $415.83 million, a P/E ratio of -4.37 and a beta of -0.12.

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.