Entrada Therapeutics (NASDAQ:TRDA) Posts Earnings Results, Misses Expectations By $0.02 EPS

Entrada Therapeutics (NASDAQ:TRDA) announced its earnings results on Thursday. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02), Zacks reports. The firm had revenue of $12.00 million for the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%.

Entrada Therapeutics Stock Performance

TRDA traded up $0.01 during midday trading on Thursday, hitting $6.95. The company had a trading volume of 367,225 shares, compared to its average volume of 204,921. The company has a market capitalization of $264.38 million, a PE ratio of -3.90 and a beta of -0.08. Entrada Therapeutics has a twelve month low of $4.93 and a twelve month high of $21.79. The firm’s 50-day simple moving average is $5.93 and its 200-day simple moving average is $6.73.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State of Wyoming boosted 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 valued at $51,000 after purchasing an additional 4,295 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $68,000. IHT Wealth Management LLC bought a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $72,000. Man Group plc bought a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $113,000. Finally, Walleye Capital LLC bought a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $117,000. Institutional investors own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TRDA has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Roth Capital set a $13.00 target price on shares of Entrada Therapeutics in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Entrada Therapeutics in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Entrada Therapeutics to a “hold” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.