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

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $17.50.

TRDA has been the topic of a number of recent analyst reports. Guggenheim lowered their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Finally, Roth Capital set a $10.00 target price on Entrada Therapeutics in a research note on Friday, May 8th.

Key Stories Impacting Entrada Therapeutics

Here are the key news stories impacting Entrada Therapeutics this week:

• Negative Sentiment: Major shareholder Ventures V. L.P. 5Am reported selling 62,811 shares across August 6 and August 7 for approximately $431,829. The transactions reduced its reported ownership by about 2.2%, signaling some disposition of shares. SEC filing on Ventures V. L.P. 5Am share sales
• Negative Sentiment: Director Kush Parmar reported selling 155,255 shares in three transactions from August 6 through August 10 for approximately $1.08 million. The sales reduced his position by roughly 5.5%, adding to concerns about insider confidence in the near term. SEC filing on Kush Parmar share sales
• Neutral Sentiment: Despite the sales, the filings indicate that Ventures V. L.P. 5Am and Parmar continued to hold millions of TRDA shares, so the transactions represent relatively modest reductions in their overall stakes rather than complete exits.

Entrada Therapeutics Stock Performance

Shares of TRDA stock opened at $6.95 on Tuesday. The company has a market capitalization of $270.63 million, a PE ratio of -1.76 and a beta of -0.26. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $16.45. The business’s fifty day moving average is $6.86 and its 200 day moving average is $9.68.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. On average, sell-side analysts forecast that Entrada Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Transactions at Entrada Therapeutics

In other news, Director Bernhardt G. Zeiher acquired 5,000 shares of Entrada Therapeutics stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $5.86 per share, for a total transaction of $29,300.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $29,300. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kush Parmar sold 114,756 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the transaction, the director directly owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 451,014 shares of company stock worth $3,124,822. 9.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

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