Entrada Therapeutics (NASDAQ:TRDA) Hits New 1-Year High – Time to Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.36 and last traded at $14.45, with a volume of 9344 shares trading hands. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRDA. Cantor Fitzgerald began coverage on Entrada Therapeutics in a report on Wednesday, April 1st. They set an “overweight” rating for the company. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Finally, Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Entrada Therapeutics Stock Performance

The company has a 50 day moving average of $12.21 and a 200-day moving average of $10.17. The stock has a market cap of $519.71 million, a price-to-earnings ratio of -3.92 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%.The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million. On average, research analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total value of $155,216.70. Following the transaction, the chief operating officer directly owned 198,588 shares in the company, valued at approximately $2,591,573.40. This trade represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kory James Wentworth sold 11,388 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total value of $148,271.76. Following the completion of the transaction, the chief financial officer owned 121,510 shares in the company, valued at $1,582,060.20. This trade represents a 8.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,975 shares of company stock worth $540,444 in the last 90 days. 8.11% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

Several hedge funds have recently modified their holdings of TRDA. State of Wyoming lifted its holdings in shares of Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after buying an additional 4,295 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 72.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares during the period. AXQ Capital LP acquired a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at approximately $67,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at approximately $68,000. Finally, Inscription Capital LLC acquired a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at approximately $69,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.