Oppenheimer Forecasts Strong Price Appreciation for Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics (NASDAQ:TRDA) had its price objective lifted by research analysts at Oppenheimer from $21.00 to $23.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 66.06% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on TRDA. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Finally, Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a report on Wednesday, April 1st. They set an “overweight” rating for the company. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $13.85 on Monday. The firm’s 50-day moving average is $11.91 and its 200-day moving average is $9.84. Entrada Therapeutics has a 1 year low of $4.93 and a 1 year high of $14.00. The company has a market cap of $530.18 million, a P/E ratio of -4.00 and a beta of -0.15.

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, topping analysts’ consensus estimates of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. As a group, sell-side analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Transactions at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 2,500 shares of Entrada Therapeutics stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $12.95, for a total transaction of $32,375.00. Following the sale, the chief financial officer directly owned 119,010 shares in the company, valued at $1,541,179.50. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total transaction of $155,216.70. Following the sale, the chief operating officer owned 198,588 shares in the company, valued at approximately $2,591,573.40. This represents a 5.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 41,975 shares of company stock worth $540,444. Company insiders own 8.11% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TRDA. Geode Capital Management LLC raised its position 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 acquiring an additional 42,479 shares in the last quarter. Rhumbline Advisers raised its position in Entrada Therapeutics by 8.3% in the second quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock worth $263,000 after acquiring an additional 2,982 shares in the last quarter. American Century Companies Inc. raised its position in Entrada Therapeutics by 10.8% in the second quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock worth $505,000 after acquiring an additional 7,301 shares in the last quarter. Prudential Financial Inc. raised its position in Entrada Therapeutics by 23.4% in the second quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock worth $190,000 after acquiring an additional 5,370 shares in the last quarter. Finally, Invesco Ltd. raised its position in Entrada Therapeutics by 34.2% in the second quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock worth $150,000 after acquiring an additional 5,702 shares in the last quarter. 86.39% of the stock is currently 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.