Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Consensus Price Target of $17.75 According to Brokerages

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.75.

Several analysts have weighed in on TRDA shares. Guggenheim cut their target price on 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 Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Roth Capital reissued a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday.

Insider Buying and Selling at Entrada Therapeutics

In other news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the sale, the insider directly owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kush Parmar sold 114,756 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the transaction, the director owned 2,848,310 shares of the company’s stock, valued at $19,738,788.30. This trade represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 946,961 shares of company stock valued at $6,725,291. Company insiders own 9.49% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TRDA. Odyssean LLC bought a new position in Entrada Therapeutics during the second quarter valued at about $230,000. Nantahala Capital Management LLC acquired a new position in Entrada Therapeutics during the second quarter worth about $2,212,232. Public Employees Retirement System of Ohio bought a new stake in Entrada Therapeutics in the second quarter worth about $276,000. Bank of America Corp DE acquired a new stake in Entrada Therapeutics in the 2nd quarter valued at about $426,000. Finally, 5AM Venture Management LLC acquired a new stake in Entrada Therapeutics in the 2nd quarter valued at about $29,854,949. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Trading Down 1.0%

Shares of NASDAQ:TRDA opened at $6.16 on Wednesday. The firm’s 50 day moving average is $6.92 and its two-hundred day moving average is $8.67. Entrada Therapeutics has a 52 week low of $5.55 and a 52 week high of $16.45. The firm has a market capitalization of $239.87 million, a P/E ratio of -1.56 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. Analysts predict that Entrada Therapeutics will post -4.03 EPS for the current year.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines designed to address diseases caused by dysfunctional proteins inside cells. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic molecules into target cells and help them escape endosomes, cellular compartments that can limit the activity of certain treatments.

Entrada is applying the EEV platform to oligonucleotide-based medicines, including compounds designed to modify RNA and influence the production of disease-associated proteins.