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

Entrada Therapeutics (NASDAQ:TRDA) had its target price boosted by HC Wainwright from $18.00 to $20.00 in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Entrada Therapeutics’ Q4 2024 earnings at ($0.66) EPS and FY2024 earnings at $1.04 EPS.

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

Entrada Therapeutics Price Performance

Entrada Therapeutics stock opened at $19.82 on Wednesday. The stock has a market cap of $741.66 million, a P/E ratio of 12.47 and a beta of -0.26. Entrada Therapeutics has a 1 year low of $10.75 and a 1 year high of $19.95. The firm’s 50 day moving average price is $16.40 and its 200-day moving average price is $15.70.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.90. The firm had revenue of $94.69 million for the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. As a group, equities analysts expect that Entrada Therapeutics will post 0.98 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kory James Wentworth sold 3,195 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.97, for a total value of $47,829.15. Following the sale, the chief financial officer now owns 76,486 shares in the company, valued at approximately $1,144,995.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.97, for a total transaction of $47,829.15. Following the transaction, the chief financial officer now owns 76,486 shares in the company, valued at $1,144,995.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Nathan J. Dowden sold 1,904 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the transaction, the chief operating officer now owns 125,996 shares in the company, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,187 shares of company stock worth $155,947. Insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of large investors have recently made changes to their positions in TRDA. US Bancorp DE bought a new position in Entrada Therapeutics in the third quarter worth about $42,000. Acadian Asset Management LLC acquired a new position in shares of Entrada Therapeutics during the first quarter valued at about $79,000. SG Americas Securities LLC acquired a new position in shares of Entrada Therapeutics during the third quarter valued at about $156,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Entrada Therapeutics by 427.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after acquiring an additional 11,965 shares in the last quarter. Finally, BayBridge Capital Group LLC acquired a new position in shares of Entrada Therapeutics during the third quarter valued at about $464,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.