HC Wainwright Reiterates “Buy” Rating for Entrada Therapeutics (NASDAQ:TRDA)

HC Wainwright reissued their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report released on Wednesday, Benzinga reports. They currently have a $18.00 price objective on the stock. HC Wainwright also issued estimates for Entrada Therapeutics’ Q3 2024 earnings at ($0.47) EPS, Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at $0.88 EPS, Q1 2025 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.91) EPS, Q3 2025 earnings at ($0.94) EPS and FY2025 earnings at ($3.74) EPS.

Entrada Therapeutics Trading Up 1.7 %

Shares of TRDA opened at $16.53 on Wednesday. Entrada Therapeutics has a twelve month low of $10.75 and a twelve month high of $18.17. The company has a market cap of $614.92 million, a P/E ratio of 26.24 and a beta of -0.25. The company’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $14.43.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. The business had revenue of $94.69 million during the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a return on equity of 41.31% and a net margin of 43.63%. Analysts predict that Entrada Therapeutics will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dipal Doshi sold 1,600 shares of Entrada Therapeutics stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.81, for a total transaction of $28,496.00. Following the sale, the chief executive officer now directly owns 334,475 shares in the company, valued at $5,956,999.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 1,758 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the transaction, the chief financial officer now directly owns 81,412 shares in the company, valued at approximately $1,217,109.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dipal Doshi sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.81, for a total transaction of $28,496.00. Following the sale, the chief executive officer now directly owns 334,475 shares in the company, valued at approximately $5,956,999.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,571 shares of company stock valued at $245,595. 7.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TRDA. New York State Teachers Retirement System purchased a new position in Entrada Therapeutics during the 1st quarter valued at about $27,000. Acadian Asset Management LLC purchased a new stake in shares of Entrada Therapeutics during the first quarter valued at approximately $79,000. Allspring Global Investments Holdings LLC lifted its stake in Entrada Therapeutics by 427.6% in the first 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. Strs Ohio lifted its position in Entrada Therapeutics by 792.6% during the fourth quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $363,000 after buying an additional 21,400 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Entrada Therapeutics by 25.3% during the 2nd quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock valued at $526,000 after purchasing an additional 7,452 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

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.