Entrada Therapeutics (NASDAQ:TRDA) Given New $18.00 Price Target at HC Wainwright

Entrada Therapeutics (NASDAQ:TRDA) had its price objective lowered by HC Wainwright from $20.00 to $18.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 26.40% from the stock’s previous close.

Entrada Therapeutics Stock Performance

NASDAQ:TRDA opened at $14.24 on Tuesday. The stock has a market cap of $480.74 million, a price-to-earnings ratio of 22.60 and a beta of -0.23. Entrada Therapeutics has a one year low of $10.75 and a one year high of $18.44. The business’s 50-day simple moving average is $14.41 and its 200 day simple moving average is $14.29.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of ($0.38) by $1.06. Entrada Therapeutics had a return on equity of 9.73% and a net margin of 14.42%. The company had revenue of $59.12 million during the quarter, compared to analysts’ expectations of $25.00 million. On average, equities research analysts predict that Entrada Therapeutics will post -0.34 EPS for the current year.

Insider Transactions at Entrada Therapeutics

In other news, CEO Dipal Doshi sold 1,800 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.00, for a total transaction of $27,000.00. Following the transaction, the chief executive officer now owns 338,575 shares of the company’s stock, valued at $5,078,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entrada Therapeutics news, Director Peter S. Kim bought 2,276 shares of the stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $14.04 per share, for a total transaction of $31,955.04. Following the completion of the purchase, the director now directly owns 65,212 shares in the company, valued at $915,576.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dipal Doshi sold 1,800 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief executive officer now owns 338,575 shares in the company, valued at $5,078,625. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 6,388 shares of company stock valued at $88,027 and sold 13,475 shares valued at $205,133. Insiders own 7.58% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics in the first quarter valued at approximately $79,000. Vanguard Group Inc. boosted its position in Entrada Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after purchasing an additional 13,742 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after buying an additional 11,965 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Entrada Therapeutics in the first quarter worth $27,000. Finally, Tower Research Capital LLC TRC lifted its stake in Entrada Therapeutics by 476.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the company’s stock valued at $87,000 after buying an additional 4,777 shares during the last quarter. Institutional investors 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.