HC Wainwright Forecasts Strong Price Appreciation for Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics (NASDAQ:TRDA) had its price target raised by HC Wainwright from $18.00 to $20.00 in a report published on Wednesday,Benzinga reports. The firm 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 reissued an “outperform” rating and issued a $25.00 price target on shares of Entrada Therapeutics in a research note on Monday, August 26th.

Entrada Therapeutics Trading Up 3.1 %

Shares of NASDAQ:TRDA opened at $19.82 on Wednesday. Entrada Therapeutics has a twelve month low of $10.75 and a twelve month high of $19.95. The company’s 50 day moving average is $16.40 and its 200 day moving average is $15.70. The company has a market cap of $741.66 million, a PE ratio of 12.47 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $0.65 by $0.90. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. The business had revenue of $94.69 million for the quarter, compared to analyst estimates of $55.00 million. Equities research analysts predict that Entrada Therapeutics will post 0.98 earnings per share for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of Entrada Therapeutics 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 sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Natarajan Sethuraman sold 2,642 shares of Entrada Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares in the company, valued at $2,773,783.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nathan J. Dowden sold 1,904 shares of Entrada Therapeutics stock in a transaction on 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 in the company, valued at approximately $1,898,759.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,187 shares of company stock valued at $155,947. 7.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. US Bancorp DE purchased a new position in shares of Entrada Therapeutics during the 3rd quarter worth $42,000. Acadian Asset Management LLC purchased a new position in shares of Entrada Therapeutics during the 1st quarter worth $79,000. SG Americas Securities LLC purchased a new position in shares of Entrada Therapeutics during the 3rd quarter worth $156,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 11,965 shares during the period. Finally, BayBridge Capital Group LLC purchased a new position in shares of Entrada Therapeutics during the 3rd quarter worth $464,000. 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.