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

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 75.28% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Roth Mkm set a $13.00 target price on shares of Entrada Therapeutics in a report on Thursday, November 6th. Oppenheimer started coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price target on the stock. Finally, Guggenheim upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Entrada Therapeutics Price Performance

Entrada Therapeutics stock opened at $11.41 on Wednesday. The firm has a market capitalization of $436.09 million, a price-to-earnings ratio of -4.58 and a beta of -0.12. The company’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $8.19. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $13.82.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC grew its position in Entrada Therapeutics by 239.8% in the second quarter. AlphaQuest LLC now owns 39,625 shares of the company’s stock valued at $266,000 after acquiring an additional 27,963 shares during the last quarter. Corton Capital Inc. acquired a new stake in Entrada Therapeutics during the 2nd quarter valued at approximately $193,000. Los Angeles Capital Management LLC raised its stake in Entrada Therapeutics by 60.6% during the second quarter. Los Angeles Capital Management LLC now owns 44,632 shares of the company’s stock worth $300,000 after buying an additional 16,840 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after purchasing an additional 42,479 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Entrada Therapeutics by 15.7% in the second quarter. Intech Investment Management LLC now owns 17,702 shares of the company’s stock valued at $119,000 after buying an additional 2,397 shares during the period. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

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.