HC Wainwright Issues Positive Forecast for Entrada Therapeutics (NASDAQ:TRDA) Stock Price

Entrada Therapeutics (NASDAQ:TRDA) had its price objective lifted by HC Wainwright from $18.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Entrada Therapeutics’ FY2024 earnings at $1.04 EPS.

Separately, Oppenheimer reiterated an “outperform” rating and set a $25.00 price target on shares of Entrada Therapeutics in a research report on Monday, August 26th.

Entrada Therapeutics Price Performance

Shares of Entrada Therapeutics stock opened at $18.66 on Wednesday. The firm has a market capitalization of $694.15 million, a PE ratio of 6.30 and a beta of -0.26. The company’s fifty day moving average price is $16.33 and its two-hundred day moving average price is $15.61. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $19.78.

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

Insider Buying and Selling

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the company’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 transaction, the chief operating officer now directly owns 125,996 shares in the company, valued at approximately $1,898,759.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the company’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 transaction, the chief operating officer now directly owns 125,996 shares in the company, valued at approximately $1,898,759.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares in the company, valued at approximately $2,773,783.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,187 shares of company stock worth $155,947 in the last 90 days. Corporate insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TRDA. US Bancorp DE bought a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at about $42,000. Acadian Asset Management LLC bought a new stake in Entrada Therapeutics during the 1st quarter worth approximately $79,000. SG Americas Securities LLC bought a new stake in Entrada Therapeutics during the 3rd quarter worth approximately $156,000. Allspring Global Investments Holdings LLC increased its stake in Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after purchasing an additional 11,965 shares in the last quarter. Finally, BayBridge Capital Group LLC bought a new stake in Entrada Therapeutics during the 3rd quarter worth approximately $464,000. 86.39% of the stock is owned by 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.