Oppenheimer Initiates Coverage on Entrada Therapeutics (NASDAQ:TRDA)

Equities researchers at Oppenheimer assumed coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a report released on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $21.00 price target on the stock. Oppenheimer’s target price points to a potential upside of 80.10% from the stock’s current price.

A number of other brokerages also recently weighed in on TRDA. Roth Mkm set a $13.00 price target on shares of Entrada Therapeutics in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.00.

Entrada Therapeutics Stock Up 4.6%

NASDAQ:TRDA opened at $11.66 on Wednesday. Entrada Therapeutics has a 12-month low of $4.93 and a 12-month high of $14.27. The stock’s fifty day simple moving average is $10.60 and its 200-day simple moving average is $7.70. The firm has a market capitalization of $445.65 million, a P/E ratio of -4.68 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. The company had revenue of $1.61 million during the quarter, compared to the consensus estimate of $8.62 million. As a group, equities research analysts expect that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Transactions at Entrada Therapeutics

In other news, Director Kush Parmar sold 200,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $8.80, for a total value of $1,760,000.00. Following the sale, the director owned 2,963,066 shares of the company’s stock, valued at $26,074,980.80. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Bros. Advisors Lp Baker purchased 100,736 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $7.76 per share, for a total transaction of $781,711.36. Following the completion of the transaction, the insider directly owned 4,664,924 shares in the company, valued at approximately $36,199,810.24. This represents a 2.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 178,044 shares of company stock valued at $1,352,568 and have sold 408,910 shares valued at $3,608,922. Corporate insiders own 8.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after buying an additional 666,287 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Entrada Therapeutics by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after buying an additional 42,479 shares during the last quarter. Royce & Associates LP lifted its position in Entrada Therapeutics by 54.8% during the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock worth $2,004,000 after acquiring an additional 122,256 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Entrada Therapeutics by 234.5% during the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after purchasing an additional 235,384 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Entrada Therapeutics by 43.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 315,810 shares of the company’s stock worth $1,832,000 after buying an additional 95,074 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.