HC Wainwright Has Positive Outlook of TRDA FY2024 Earnings

Entrada Therapeutics, Inc. (NASDAQ:TRDA) – Stock analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Entrada Therapeutics in a note issued to investors on Wednesday, November 6th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of $1.04 for the year, up from their previous forecast of $0.88. HC Wainwright has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Entrada Therapeutics’ current full-year earnings is $0.68 per share.

Separately, Oppenheimer raised their price target on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday.

Entrada Therapeutics Stock Performance

Shares of TRDA opened at $19.23 on Thursday. The firm has a market capitalization of $715.36 million, a price-to-earnings ratio of 6.50 and a beta of -0.26. Entrada Therapeutics has a one year low of $10.75 and a one year high of $19.85. The stock’s fifty day moving average is $16.36 and its 200-day moving average is $15.63.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. The company had revenue of $94.69 million for the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%.

Insider Activity at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 3,195 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.97, for a total transaction of $47,829.15. Following the completion of the transaction, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Nathan J. Dowden sold 1,904 shares of Entrada Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.07, for a total value of $28,693.28. Following the transaction, the chief operating officer now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.97, for a total value of $47,829.15. Following the completion of the transaction, the chief financial officer now directly owns 76,486 shares in the company, valued at $1,144,995.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,187 shares of company stock valued at $155,947 over the last 90 days. 7.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Entrada Therapeutics by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after purchasing an additional 2,146 shares in the last quarter. US Bancorp DE purchased a new position in Entrada Therapeutics in the 3rd quarter worth about $42,000. Acadian Asset Management LLC purchased a new position in Entrada Therapeutics in the 1st quarter worth about $79,000. Rhumbline Advisers increased its stake in Entrada Therapeutics by 25.3% in the 2nd quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after purchasing an additional 7,452 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Entrada Therapeutics during the 3rd quarter valued at about $156,000. Hedge funds and other 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.