Entrada Therapeutics (NASDAQ:TRDA) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note released on Monday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other analysts have also issued reports on TRDA. Roth Capital upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th. Roth Mkm started coverage on Entrada Therapeutics in a report on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price on the stock.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA opened at $9.04 on Monday. The business has a fifty day moving average price of $11.92 and a two-hundred day moving average price of $15.38. The stock has a market capitalization of $339.86 million, a PE ratio of 5.69 and a beta of -0.14. Entrada Therapeutics has a fifty-two week low of $8.85 and a fifty-two week high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.69. The business had revenue of $12.25 million during the quarter, compared to the consensus estimate of $11.95 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. On average, equities analysts expect that Entrada Therapeutics will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Entrada Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Entrada Therapeutics by 8.8% during the third quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock worth $9,214,000 after buying an additional 46,512 shares during the last quarter. Barclays PLC boosted its holdings in shares of Entrada Therapeutics by 210.6% during the 3rd quarter. Barclays PLC now owns 45,110 shares of the company’s stock valued at $720,000 after acquiring an additional 30,585 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Entrada Therapeutics by 34.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock worth $226,000 after acquiring an additional 3,644 shares during the last quarter. State Street Corp increased its holdings in Entrada Therapeutics by 5.5% in the 3rd quarter. State Street Corp now owns 469,601 shares of the company’s stock worth $7,504,000 after purchasing an additional 24,385 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Entrada Therapeutics by 44.0% in the fourth quarter. SG Americas Securities LLC now owns 14,036 shares of the company’s stock valued at $243,000 after purchasing an additional 4,291 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.