Entrada Therapeutics (NASDAQ:TRDA) Rating Lowered to “Sell” at Wall Street Zen

Entrada Therapeutics (NASDAQ:TRDA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the company. Roth Capital restated a “buy” rating and set a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Weiss Ratings lowered Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Finally, Guggenheim decreased their price target on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Entrada Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $6.16 on Friday. The firm has a market cap of $239.87 million, a P/E ratio of -1.56 and a beta of -0.25. Entrada Therapeutics has a 12 month low of $5.55 and a 12 month high of $16.45. The company’s 50-day moving average price is $6.92 and its two-hundred day moving average price is $8.64.

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

Insider Buying and Selling at Entrada Therapeutics

In other news, Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the sale, the director directly owned 2,848,310 shares of the company’s stock, valued at $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 available through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $7.41, for a total transaction of $1,426,425.00. Following the completion of the sale, the insider owned 3,913,952 shares in the company, valued at $29,002,384.32. This represents a 4.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 946,961 shares of company stock valued at $6,725,291. 9.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Entrada Therapeutics by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after purchasing an additional 1,970 shares in the last quarter. Quantinno Capital Management LP increased its stake in Entrada Therapeutics by 4.9% in the 1st quarter. Quantinno Capital Management LP now owns 71,018 shares of the company’s stock valued at $896,000 after buying an additional 3,301 shares during the last quarter. State of Wyoming bought a new stake in Entrada Therapeutics during the 2nd quarter worth about $37,000. The Manufacturers Life Insurance Company lifted its position in Entrada Therapeutics by 25.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,656 shares of the company’s stock worth $892,000 after buying an additional 14,111 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $114,000. Institutional investors own 86.39% of the company’s stock.

About Entrada Therapeutics

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.