Entrada Therapeutics, Inc. (NASDAQ:TRDA – Get Free Report) shares traded up 1.1% during mid-day trading on Thursday . The stock traded as high as $7.49 and last traded at $7.40. Approximately 603,163 shares traded hands during trading, an increase of 96% from the average session volume of 308,410 shares. The stock had previously closed at $7.32.
Wall Street Analysts Forecast Growth
TRDA has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Guggenheim decreased their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, April 1st. They set an “overweight” rating for the company. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Entrada Therapeutics presently has an average rating of “Hold” and an average target price of $17.50.
Read Our Latest Analysis on TRDA
Entrada Therapeutics Stock Performance
Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.11. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The firm had revenue of $0.88 million during the quarter, compared to analyst estimates of $2.92 million. Sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current year.
Insider Transactions at Entrada Therapeutics
In other Entrada Therapeutics news, Director Bernhardt G. Zeiher bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $5.86 per share, with a total value of $29,300.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $29,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Nathan J. Dowden sold 15,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $15.33, for a total value of $229,950.00. Following the transaction, the chief operating officer owned 198,588 shares of the company’s stock, valued at $3,044,354.04. This trade represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.49% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after purchasing an additional 42,479 shares during the period. Rhumbline Advisers grew its position in Entrada Therapeutics by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after buying an additional 2,982 shares in the last quarter. American Century Companies Inc. increased its stake in Entrada Therapeutics by 10.8% during the 2nd quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock valued at $505,000 after buying an additional 7,301 shares during the period. Prudential Financial Inc. increased its stake in Entrada Therapeutics by 23.4% during the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock valued at $190,000 after buying an additional 5,370 shares during the period. Finally, Invesco Ltd. raised its position in shares of Entrada Therapeutics by 34.2% during the 2nd quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock worth $150,000 after buying an additional 5,702 shares in the last quarter. 86.39% of the stock is 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.
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