HC Wainwright Issues Positive Forecast for Entrada Therapeutics (NASDAQ:TRDA) Stock Price

Entrada Therapeutics (NASDAQ:TRDA) had its price target upped by HC Wainwright from $18.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 4.00% from the company’s current price. HC Wainwright also issued estimates for Entrada Therapeutics’ FY2024 earnings at $1.04 EPS.

Separately, Oppenheimer reiterated an “outperform” rating and issued a $25.00 price target on shares of Entrada Therapeutics in a research report on Monday, August 26th.

Entrada Therapeutics Trading Up 3.1 %

Shares of Entrada Therapeutics stock opened at $19.23 on Wednesday. The company’s 50-day moving average price is $16.36 and its two-hundred day moving average price is $15.63. Entrada Therapeutics has a 52 week low of $10.75 and a 52 week high of $19.85. The stock has a market cap of $715.36 million, a PE ratio of 6.50 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $0.65 by $0.90. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. The firm had revenue of $94.69 million for the quarter, compared to analysts’ expectations of $55.00 million. On average, equities analysts predict that Entrada Therapeutics will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the sale, the insider now directly owns 183,816 shares of the company’s stock, valued at $2,773,783.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now directly owns 183,816 shares of the company’s stock, valued at approximately $2,773,783.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.07, for a total transaction of $28,693.28. Following the completion of the sale, the chief operating officer now directly owns 125,996 shares of the company’s stock, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,187 shares of company stock valued at $155,947. Company insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in shares of Entrada Therapeutics during the third quarter worth $42,000. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics in the 1st quarter worth about $79,000. SG Americas Securities LLC acquired a new position in Entrada Therapeutics in the 3rd quarter worth about $156,000. Allspring Global Investments Holdings LLC increased its position in Entrada Therapeutics by 427.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after purchasing an additional 11,965 shares during the last quarter. Finally, BayBridge Capital Group LLC acquired a new position in Entrada Therapeutics in the 3rd quarter worth about $464,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Entrada Therapeutics Company Profile

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.