Entrada Therapeutics (NASDAQ:TRDA) Issues Earnings Results

Entrada Therapeutics (NASDAQ:TRDAGet Free Report) issued its quarterly earnings results on Wednesday. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04), FiscalAI reports. The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.23 million. Entrada Therapeutics had a negative return on equity of 54.19% and a negative net margin of 3,537.73%.

Entrada Therapeutics Stock Down 0.8%

Shares of NASDAQ:TRDA traded down $0.06 during trading on Friday, hitting $6.82. 45,635 shares of the stock traded hands, compared to its average volume of 331,293. The company has a fifty day moving average price of $6.86 and a two-hundred day moving average price of $9.74. 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 $264.56 million, a price-to-earnings ratio of -1.72 and a beta of -0.26.

Insider Buying and Selling

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction dated 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 owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernhardt G. Zeiher bought 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $5.86 per share, for a total transaction of $29,300.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $29,300. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 232,948 shares of company stock valued at $1,614,055. Corporate insiders own 9.49% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds have recently bought and sold shares of TRDA. Invesco Ltd. grew its holdings in 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 during the period. XTX Topco Ltd raised its stake in shares of Entrada Therapeutics by 26.4% during 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 position in shares of Entrada Therapeutics by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after buying an additional 90,339 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in shares of Entrada Therapeutics during the 4th quarter valued at approximately $1,140,000. Finally, Quadrature Capital Ltd lifted its position in shares of Entrada Therapeutics by 13.5% during 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. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRDA. Guggenheim reduced their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Weiss Ratings lowered Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Roth Capital set a $10.00 price target on shares of Entrada Therapeutics in a report on Friday, May 8th. Finally, HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.50.

View Our Latest Research Report on TRDA

About Entrada Therapeutics

(Get Free Report)

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.

Featured Stories

Earnings History for Entrada Therapeutics (NASDAQ:TRDA)

Receive News & Ratings for Entrada Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entrada Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.