HC Wainwright Trims Entrada Therapeutics (NASDAQ:TRDA) Target Price to $18.00

Entrada Therapeutics (NASDAQ:TRDA) had its price objective trimmed by HC Wainwright from $20.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Entrada Therapeutics’ Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($0.37) EPS, Q1 2025 earnings at ($0.87) EPS, Q2 2025 earnings at ($0.92) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.77) EPS.

Entrada Therapeutics Stock Performance

TRDA opened at $14.17 on Tuesday. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $18.44. The firm has a market capitalization of $478.38 million, a PE ratio of 22.49 and a beta of -0.23. The business’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $14.29.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $1.06. Entrada Therapeutics had a return on equity of 9.73% and a net margin of 14.42%. The business had revenue of $59.12 million for the quarter, compared to analyst estimates of $25.00 million. On average, research analysts forecast that Entrada Therapeutics will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.00, for a total value of $27,000.00. Following the sale, the chief executive officer now owns 338,575 shares in the company, valued at $5,078,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.00, for a total value of $27,000.00. Following the sale, the chief executive officer now owns 338,575 shares in the company, valued at $5,078,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter S. Kim acquired 2,600 shares of the company’s stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $13.57 per share, for a total transaction of $35,282.00. Following the purchase, the director now directly owns 62,936 shares of the company’s stock, valued at $854,041.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,475 shares of company stock worth $205,133. Corporate insiders own 7.58% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Entrada Therapeutics in the first quarter valued at approximately $79,000. Vanguard Group Inc. grew its position in shares of Entrada Therapeutics by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after purchasing an additional 13,742 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Entrada Therapeutics by 427.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after purchasing an additional 11,965 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Entrada Therapeutics in the first quarter valued at approximately $27,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Entrada Therapeutics by 476.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the company’s stock valued at $87,000 after purchasing an additional 4,777 shares during the last quarter. Institutional investors and hedge funds 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.