Entrada Therapeutics’ (TRDA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a report published on Tuesday,Benzinga reports. The firm currently has a $20.00 price objective on the stock.

Several other analysts have also issued reports on TRDA. Oppenheimer increased their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Roth Capital upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Roth Mkm began coverage on shares of Entrada Therapeutics in a research report on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price for the company.

Entrada Therapeutics Stock Down 0.3 %

NASDAQ TRDA opened at $11.98 on Tuesday. The firm has a 50-day moving average price of $14.40 and a two-hundred day moving average price of $16.26. Entrada Therapeutics has a 12-month low of $11.35 and a 12-month high of $21.79. The company has a market capitalization of $448.29 million, a P/E ratio of 7.53 and a beta of -0.17.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.69. The business had revenue of $12.25 million during the quarter, compared to analysts’ expectations of $11.95 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. Equities analysts expect that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Transactions at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer now owns 73,849 shares of the company’s stock, valued at approximately $1,476,980. This trade represents a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the transaction, the insider now directly owns 4,402,849 shares of the company’s stock, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new position in Entrada Therapeutics during the fourth quarter worth $251,000. WCG Wealth Advisors LLC boosted its position in shares of Entrada Therapeutics by 6.2% during the 4th quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company’s stock valued at $415,000 after purchasing an additional 1,406 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Entrada Therapeutics by 6.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company’s stock worth $298,000 after purchasing an additional 1,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Entrada Therapeutics by 152.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,750 shares of the company’s stock worth $618,000 after purchasing an additional 21,594 shares in the last quarter. Finally, State of Wyoming acquired a new position in Entrada Therapeutics in the fourth quarter valued at approximately $104,000. 86.39% of the stock is 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.