Entrada Therapeutics (NASDAQ:TRDA) Upgraded by Wall Street Zen to Hold Rating

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts have also recently commented on the company. Oppenheimer began coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 target price for the company. Roth Mkm set a $13.00 price objective on Entrada Therapeutics in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Entrada Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Entrada Therapeutics Price Performance

Shares of TRDA opened at $11.93 on Friday. The company has a 50-day moving average of $10.90 and a two-hundred day moving average of $8.45. The stock has a market cap of $455.96 million, a price-to-earnings ratio of -3.45 and a beta of -0.12. Entrada Therapeutics has a one year low of $4.93 and a one year high of $12.93.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 37.91%. The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. Analysts anticipate that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TRDA. Baker BROS. Advisors LP lifted its stake in Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after acquiring an additional 206,911 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Entrada Therapeutics by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after purchasing an additional 90,339 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after purchasing an additional 666,287 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after purchasing an additional 42,479 shares in the last quarter. Finally, State Street Corp increased its position in Entrada Therapeutics by 2.0% during the fourth quarter. State Street Corp now owns 508,789 shares of the company’s stock worth $5,230,000 after buying an additional 10,174 shares during 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.