Entrada Therapeutics’ (TRDA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

A number of other brokerages have also commented on TRDA. Roth Mkm assumed coverage on shares of Entrada Therapeutics in a report on Thursday, December 5th. They set a “buy” rating and a $29.00 price objective on the stock. Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Oppenheimer upped their price objective on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th.

Entrada Therapeutics Price Performance

Shares of Entrada Therapeutics stock opened at $11.98 on Tuesday. The company has a market capitalization of $448.29 million, a P/E ratio of 7.53 and a beta of -0.17. The business has a 50-day moving average of $14.40 and a two-hundred day moving average of $16.26. Entrada Therapeutics has a 1 year low of $11.35 and a 1 year high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.69. The business had revenue of $12.25 million during the quarter, compared to analysts’ expectations of $11.95 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. On average, equities analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the completion of the transaction, the insider now directly owns 4,402,849 shares in the company, valued at $91,447,173.73. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kory James Wentworth sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer now owns 73,849 shares in the company, valued at approximately $1,476,980. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. 7.59% of the stock is owned by insiders.

Institutional Trading of Entrada Therapeutics

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Entrada Therapeutics by 21.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company’s stock valued at $36,011,000 after purchasing an additional 368,908 shares during the period. Vanguard Group Inc. raised its stake in Entrada Therapeutics by 19.7% in the fourth quarter. Vanguard Group Inc. now owns 1,464,237 shares of the company’s stock valued at $25,317,000 after buying an additional 241,052 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Entrada Therapeutics by 123.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 222,520 shares of the company’s stock worth $3,847,000 after acquiring an additional 122,823 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Entrada Therapeutics by 127.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 217,006 shares of the company’s stock worth $3,752,000 after acquiring an additional 121,598 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Entrada Therapeutics by 3,104.3% in the 4th quarter. Federated Hermes Inc. now owns 99,814 shares of the company’s stock valued at $1,726,000 after acquiring an additional 96,699 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.