Entrada Therapeutics (NASDAQ:TRDA) Lowered to Sell Rating by Wall Street Zen

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

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

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $11.93 on Friday. The company has a market capitalization of $456.68 million, a P/E ratio of -3.45 and a beta of -0.12. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $13.65. The stock has a 50-day simple moving average of $11.64 and a 200-day simple moving average of $9.39.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. As a group, analysts forecast that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total value of $155,216.70. Following the transaction, the chief operating officer directly owned 198,588 shares in the company, valued at approximately $2,591,573.40. This trade represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kory James Wentworth sold 11,388 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total value of $148,271.76. Following the completion of the transaction, the chief financial officer directly owned 121,510 shares in the company, valued at approximately $1,582,060.20. The trade was a 8.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,475 shares of company stock valued at $508,069 over the last ninety days. 8.11% 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 bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Entrada Therapeutics by 72.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares during the period. State of Wyoming lifted its stake in shares of Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after acquiring an additional 4,295 shares during the period. AXQ Capital LP purchased a new stake in shares of Entrada Therapeutics in the third quarter valued at about $67,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Entrada Therapeutics in the second quarter valued at about $68,000. Finally, Inscription Capital LLC acquired a new position in shares of Entrada Therapeutics during the third quarter worth about $69,000. 86.39% of the stock is currently owned by hedge funds and other 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.