Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives Average Recommendation of “Hold” from Brokerages

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has received an average rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.50.

A number of brokerages have recently commented on TRDA. Guggenheim cut their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Roth Capital set a $10.00 price target on Entrada Therapeutics in a research note on Friday, May 8th.

Entrada Therapeutics Trading Down 3.4%

Shares of NASDAQ TRDA opened at $6.87 on Friday. The stock has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $10.14. The company has a market cap of $266.69 million, a PE ratio of -1.72 and a beta of -0.26. Entrada Therapeutics has a 12-month low of $4.93 and a 12-month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.11. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The business had revenue of $0.88 million for the quarter, compared to analyst estimates of $2.92 million. Sell-side analysts forecast that Entrada Therapeutics will post -4.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bernhardt G. Zeiher purchased 5,000 shares of Entrada Therapeutics stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $5.86 per share, for a total transaction of $29,300.00. Following the transaction, the director owned 5,000 shares in the company, valued at $29,300. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Natarajan Sethuraman sold 25,907 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $15.39, for a total transaction of $398,708.73. Following the completion of the transaction, the insider directly owned 216,317 shares of the company’s stock, valued at $3,329,118.63. This represents a 10.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.49% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Several large investors have recently added to or reduced their stakes in TRDA. Geode Capital Management LLC boosted its position in shares of Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after buying an additional 42,479 shares during the period. Rhumbline Advisers lifted its position in shares of Entrada Therapeutics by 8.3% in the second quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock worth $263,000 after purchasing an additional 2,982 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Entrada Therapeutics by 10.8% in the second quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock worth $505,000 after purchasing an additional 7,301 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Entrada Therapeutics by 23.4% during the second quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock worth $190,000 after purchasing an additional 5,370 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Entrada Therapeutics by 34.2% during the second quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock worth $150,000 after purchasing an additional 5,702 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

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.