Entrada Therapeutics (NASDAQ:TRDA) Price Target Raised to $28.00

Entrada Therapeutics (NASDAQ:TRDA) had its target price lifted by equities research analysts at Oppenheimer from $25.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 50.38% from the stock’s current price.

Separately, HC Wainwright increased their price target on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday.

Entrada Therapeutics Trading Up 4.8 %

Shares of NASDAQ TRDA opened at $18.62 on Wednesday. Entrada Therapeutics has a 12 month low of $10.75 and a 12 month high of $18.62. The firm has a market capitalization of $692.66 million, a PE ratio of 6.29 and a beta of -0.26. The firm has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $15.59.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.90. The company had revenue of $94.69 million during the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. On average, sell-side analysts predict that Entrada Therapeutics will post 0.68 earnings per share for the current year.

Insider Activity at Entrada Therapeutics

In related news, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now directly owns 125,996 shares of the company’s stock, valued at approximately $1,898,759.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Nathan J. Dowden sold 1,904 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kory James Wentworth sold 3,195 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $14.97, for a total transaction of $47,829.15. Following the sale, the chief financial officer now directly owns 76,486 shares in the company, valued at approximately $1,144,995.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,187 shares of company stock valued at $155,947. 7.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TRDA. Allspring Global Investments Holdings LLC boosted its holdings in shares of Entrada Therapeutics by 427.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after buying an additional 11,965 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Entrada Therapeutics by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock worth $15,288,000 after buying an additional 13,742 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Entrada Therapeutics in the first quarter worth approximately $79,000. Bank of New York Mellon Corp boosted its holdings in shares of Entrada Therapeutics by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock worth $1,787,000 after buying an additional 14,838 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Entrada Therapeutics by 25.3% in the second quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after buying an additional 7,452 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.