Entrada Therapeutics (NASDAQ:TRDA) Posts Earnings Results, Beats Estimates By $0.04 EPS

Entrada Therapeutics (NASDAQ:TRDA) released its earnings results on Wednesday. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.04, FiscalAI reports. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.23 million.

Entrada Therapeutics Stock Performance

Shares of TRDA traded down $0.18 during mid-day trading on Wednesday, hitting $7.06. 591,549 shares of the stock were exchanged, compared to its average volume of 333,678. The firm has a 50-day moving average of $6.85 and a two-hundred day moving average of $9.79. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $16.45. The company has a market cap of $274.07 million, a PE ratio of -1.77 and a beta of -0.26.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of Entrada Therapeutics stock in a transaction 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 transaction, the director directly 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the sale, the insider owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 232,948 shares of company stock worth $1,614,055 over the last 90 days. 9.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Large investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Entrada Therapeutics by 41.1% in the fourth quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock worth $422,000 after purchasing an additional 11,958 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Entrada Therapeutics by 26.4% in the 4th quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock worth $1,210,000 after buying an additional 24,589 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock worth $10,740,000 after buying an additional 90,339 shares during the period. Sphera Funds Management LTD. purchased a new position in shares of Entrada Therapeutics during the fourth quarter valued at $1,140,000. Finally, Quadrature Capital Ltd grew its holdings in Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after acquiring an additional 2,424 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRDA. HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. 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. Finally, Roth Capital set a $10.00 target price on shares of Entrada Therapeutics in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.50.

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.