Entrada Therapeutics (NASDAQ:TRDA) Stock Price Expected to Rise, Oppenheimer Analyst Says

Entrada Therapeutics (NASDAQ:TRDA) had its target price upped by investment analysts at Oppenheimer from $25.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 45.61% from the stock’s current price.

Separately, HC Wainwright upped their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday.

Entrada Therapeutics Stock Up 3.1 %

NASDAQ TRDA opened at $19.23 on Wednesday. The firm has a market cap of $715.36 million, a P/E ratio of 6.50 and a beta of -0.26. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $19.85. The business’s 50-day moving average price is $16.36 and its 200 day moving average price is $15.63.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.90. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. The company had revenue of $94.69 million for the quarter, compared to the consensus estimate of $55.00 million. As a group, analysts anticipate that Entrada Therapeutics will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in shares of Entrada Therapeutics during the 2nd quarter worth approximately $636,000. The Manufacturers Life Insurance Company raised its holdings in shares of Entrada Therapeutics by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after acquiring an additional 2,146 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Entrada Therapeutics in the first quarter valued at $79,000. Vanguard Group Inc. boosted its stake in shares of Entrada Therapeutics by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after acquiring an additional 13,742 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position 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 purchasing an additional 11,965 shares in the last quarter. 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.