HC Wainwright Reiterates “Buy” Rating for Entrada Therapeutics (NASDAQ:TRDA)

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 149.69% from the stock’s previous close.

Entrada Therapeutics Stock Down 1.0%

TRDA stock opened at $8.01 on Tuesday. The company has a market cap of $304.00 million, a price-to-earnings ratio of 5.04 and a beta of 0.04. Entrada Therapeutics has a twelve month low of $7.10 and a twelve month high of $21.79. The business has a 50 day moving average price of $8.87 and a two-hundred day moving average price of $13.33.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.36. The business had revenue of $8.75 million for the quarter, compared to the consensus estimate of $10.98 million. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. On average, equities research analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Entrada Therapeutics

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in shares of Entrada Therapeutics by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company’s stock worth $298,000 after acquiring an additional 1,000 shares during the last quarter. ExodusPoint Capital Management LP grew its position in shares of Entrada Therapeutics by 7.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 16,453 shares of the company’s stock valued at $284,000 after purchasing an additional 1,113 shares during the last quarter. WCG Wealth Advisors LLC increased its stake in shares of Entrada Therapeutics by 6.2% during the fourth quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company’s stock worth $415,000 after purchasing an additional 1,406 shares during the period. Martingale Asset Management L P lifted its holdings in Entrada Therapeutics by 4.0% during the 1st quarter. Martingale Asset Management L P now owns 40,163 shares of the company’s stock worth $363,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Entrada Therapeutics by 4.9% in the 4th quarter. Bank of America Corp DE now owns 35,721 shares of the company’s stock valued at $618,000 after purchasing an additional 1,660 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.