Entrada Therapeutics (NASDAQ:TRDA) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald started coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note issued to investors on Wednesday. The firm set an “overweight” rating on the stock.

Several other research analysts have also recently weighed in on TRDA. Oppenheimer assumed coverage on shares of Entrada Therapeutics in a report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price target on the stock. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. HC Wainwright reaffirmed a “buy” rating and issued 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. Finally, Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given 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 price target of $18.50.

Entrada Therapeutics Stock Performance

Shares of TRDA opened at $12.62 on Wednesday. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $13.65. The stock’s 50-day simple moving average is $11.69 and its 200 day simple moving average is $9.55. The stock has a market capitalization of $483.09 million, a price-to-earnings ratio of -3.65 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last announced 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 net margin of 565.48% and a negative return on equity of 39.83%. On average, research analysts forecast that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 11,388 shares of the company’s 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 transaction, the chief financial officer directly owned 121,510 shares in the company, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the transaction, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. This trade represents a 5.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,475 shares of company stock worth $508,069 in the last 90 days. Company insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRDA. Royce & Associates LP grew its holdings in shares of Entrada Therapeutics by 54.8% during the 3rd quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock valued at $2,004,000 after purchasing an additional 122,256 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Entrada Therapeutics in the 3rd quarter worth $325,000. Cantor Fitzgerald L. P. bought a new stake in Entrada Therapeutics in the third quarter worth $391,000. AXQ Capital LP purchased a new stake in Entrada Therapeutics during the third quarter valued at about $67,000. Finally, NewEdge Advisors LLC purchased a new stake in Entrada Therapeutics during the third quarter valued at about $82,000. 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.