Entrada Therapeutics (NASDAQ:TRDA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report report published on Wednesday, Benzinga reports. They currently have a $18.00 price target on the stock. HC Wainwright also issued estimates for Entrada Therapeutics’ Q3 2024 earnings at ($0.47) EPS, Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at $0.88 EPS, Q1 2025 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.91) EPS, Q3 2025 earnings at ($0.94) EPS and FY2025 earnings at ($3.74) EPS.

Entrada Therapeutics Stock Up 1.7 %

TRDA stock opened at $16.53 on Wednesday. The firm has a market capitalization of $614.92 million, a PE ratio of 26.24 and a beta of -0.25. Entrada Therapeutics has a twelve month low of $10.75 and a twelve month high of $18.17. The stock’s 50 day moving average is $15.58 and its 200-day moving average is $14.43.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.90. The business had revenue of $94.69 million for the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a return on equity of 41.31% and a net margin of 43.63%. On average, equities research analysts anticipate that Entrada Therapeutics will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 9,675 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $15.19, for a total value of $146,963.25. Following the sale, the insider now directly owns 190,052 shares in the company, valued at $2,886,889.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Natarajan Sethuraman sold 9,675 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $15.19, for a total value of $146,963.25. Following the sale, the insider now directly owns 190,052 shares of the company’s stock, valued at approximately $2,886,889.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dipal Doshi sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $17.81, for a total transaction of $28,496.00. Following the sale, the chief executive officer now directly owns 334,475 shares of the company’s stock, valued at approximately $5,956,999.75. The disclosure for this sale can be found here. Insiders sold a total of 15,571 shares of company stock valued at $245,595 in the last ninety days. 7.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRDA. Vanguard Group Inc. boosted its position in shares of Entrada Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after acquiring an additional 13,742 shares during the last quarter. American Century Companies Inc. raised its position in Entrada Therapeutics by 5.1% during the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock valued at $5,486,000 after purchasing an additional 18,625 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Entrada Therapeutics by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock worth $1,787,000 after purchasing an additional 14,838 shares during the period. Marshall Wace LLP increased its position in shares of Entrada Therapeutics by 27.5% during the 2nd quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock valued at $940,000 after purchasing an additional 14,220 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Entrada Therapeutics by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock valued at $814,000 after buying an additional 2,146 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.