Entrada Therapeutics (NASDAQ:TRDA) Raised to Hold at Wall Street Zen

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

TRDA has been the subject of several other reports. Roth Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. HC Wainwright restated a “neutral” rating on shares of Entrada Therapeutics in a report on Monday. Finally, UBS Group reissued a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Entrada Therapeutics currently has a consensus rating of “Hold” and an average target price of $17.75.

Entrada Therapeutics Stock Performance

NASDAQ:TRDA opened at $4.41 on Friday. Entrada Therapeutics has a fifty-two week low of $4.11 and a fifty-two week high of $16.45. The company’s 50-day simple moving average is $6.33 and its 200-day simple moving average is $7.67.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. On average, sell-side analysts predict that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $795,259.08. Following the transaction, the director directly owned 2,848,310 shares of the company’s stock, valued at $19,738,788.30. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $7.41, for a total transaction of $1,426,425.00. Following the sale, the insider directly owned 3,913,952 shares in the company, valued at approximately $29,002,384.32. The trade was a 4.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 946,961 shares of company stock valued at $6,725,291. Insiders own 9.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Entrada Therapeutics during the second quarter valued at about $19,013,000. Nantahala Capital Management LLC purchased a new position in Entrada Therapeutics during the 2nd quarter valued at about $2,212,232. 5AM Venture Management LLC bought a new stake in shares of Entrada Therapeutics during the second quarter valued at approximately $29,854,949. GSA Capital Partners LLP bought a new stake in Entrada Therapeutics in the second quarter worth $648,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Entrada Therapeutics in the second quarter worth $582,000. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

Entrada Therapeutics, Inc (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.

Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.