Wall Street Zen upgraded shares of Entrada Therapeutics (NASDAQ:TRDA – Free Report) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.
TRDA has been the topic of several other reports. Roth Capital reissued a “buy” rating and set a $11.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. UBS Group restated a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. HC Wainwright reaffirmed a “neutral” rating on shares of Entrada Therapeutics in a research note on Monday, October 19th. Finally, Weiss Ratings cut Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.75.
Get Our Latest Stock Analysis on Entrada Therapeutics
Entrada Therapeutics Trading Up 7.7%
TRDA stock opened at $4.75 on Friday. Entrada Therapeutics has a 52 week low of $4.11 and a 52 week high of $16.45. The company has a fifty day simple moving average of $6.28 and a two-hundred day simple moving average of $8.84.
Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. On average, equities analysts predict that Entrada Therapeutics will post -4.03 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value of $102,857.14. Following the completion of the sale, the insider owned 4,318,348 shares in the company, valued at approximately $30,487,536.88. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $7.13, for a total transaction of $205,607.81. Following the transaction, the insider directly owned 3,885,115 shares of the company’s stock, valued at approximately $27,700,869.95. This represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 946,961 shares of company stock valued at $6,725,291 in the last 90 days. Company insiders own 9.49% of the company’s stock.
Institutional Trading of Entrada Therapeutics
Several institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Entrada Therapeutics during the second quarter valued at approximately $37,000. ADAR1 Capital Management LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter worth approximately $114,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Entrada Therapeutics by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock worth $246,000 after buying an additional 1,970 shares during the period. Deutsche Bank AG purchased a new stake in shares of Entrada Therapeutics in the second quarter worth approximately $195,000. Finally, Ieq Capital LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter worth approximately $218,000. Institutional investors own 86.39% of the company’s stock.
About Entrada Therapeutics
Entrada Therapeutics, Inc (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.
Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.
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