Cantor Fitzgerald Initiates Coverage on Entrada Therapeutics (NASDAQ:TRDA)

Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating on the stock.

Several other equities research analysts also recently commented on TRDA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Oppenheimer started coverage on shares of Entrada Therapeutics in a report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $13.15 on Wednesday. The stock has a market capitalization of $503.38 million, a price-to-earnings ratio of -3.80 and a beta of -0.15. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $13.66. The company has a 50 day moving average price of $11.76 and a 200 day moving average price of $9.60.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.38. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, sell-side analysts expect that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Nathan J. Dowden sold 11,894 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total transaction of $155,216.70. Following the transaction, the chief operating officer directly owned 198,588 shares of the company’s stock, valued at approximately $2,591,573.40. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kory James Wentworth sold 11,388 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total value of $148,271.76. Following the completion of the sale, the chief financial officer directly owned 121,510 shares of the company’s stock, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,975 shares of company stock worth $540,444 in the last quarter. 8.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP increased its stake in Entrada Therapeutics by 4.3% in the 4th quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after buying an additional 206,911 shares during the period. Wellington Management Group LLP lifted its position in Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock worth $10,740,000 after buying an additional 90,339 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after buying an additional 666,287 shares during the period. Geode Capital Management LLC boosted 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 valued at $4,245,000 after buying an additional 42,479 shares during the period. Finally, State Street Corp grew its holdings in shares of Entrada Therapeutics by 2.0% during the 4th quarter. State Street Corp now owns 508,789 shares of the company’s stock valued at $5,230,000 after acquiring an additional 10,174 shares in the last quarter. 86.39% of the stock is 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.