Entrada Therapeutics (NASDAQ:TRDA) Posts Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Entrada Therapeutics (NASDAQ:TRDA) announced its earnings results on Thursday. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.38, FiscalAI reports. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million.

Entrada Therapeutics Price Performance

TRDA traded down $0.58 on Friday, reaching $12.21. 72,851 shares of the company’s stock were exchanged, compared to its average volume of 218,102. Entrada Therapeutics has a twelve month low of $4.93 and a twelve month high of $12.93. The stock has a market cap of $466.51 million, a PE ratio of -4.86 and a beta of -0.12. The stock’s fifty day moving average price is $10.89 and its 200-day moving average price is $8.40.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TRDA shares. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Oppenheimer assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price target for the company. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Roth Mkm set a $13.00 price objective on Entrada Therapeutics in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Entrada Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Institutional Inflows and Outflows

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

Entrada Therapeutics Company Profile

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.