Entrada Therapeutics (NASDAQ:TRDA) Posts Earnings Results, Beats Estimates By $0.38 EPS

by · The Cerbat Gem

Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) announced its earnings results on Thursday. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.38, FiscalAI reports. The company had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.

Entrada Therapeutics Trading Up 6.8%

Shares of NASDAQ:TRDA traded up $0.81 during midday trading on Thursday, reaching $12.79. The company had a trading volume of 244,888 shares, compared to its average volume of 222,268. The stock has a market cap of $488.82 million, a P/E ratio of -5.14 and a beta of -0.12. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $12.88. The company’s 50 day moving average price is $10.85 and its 200 day moving average price is $8.37.

Hedge Funds Weigh In On Entrada Therapeutics

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Entrada Therapeutics by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after purchasing an additional 90,339 shares during the period. Millennium Management LLC increased its position in shares of Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after buying an additional 666,287 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after buying an additional 42,479 shares in the last quarter. State Street Corp grew its stake in Entrada Therapeutics by 2.0% during the fourth quarter. State Street Corp now owns 508,789 shares of the company’s stock valued at $5,230,000 after acquiring an additional 10,174 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Entrada Therapeutics by 14.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 362,786 shares of the company’s stock worth $3,729,000 after acquiring an additional 46,976 shares during the period. 86.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Roth Mkm set a $13.00 price target on shares of Entrada Therapeutics in a research note on Thursday, November 6th. Oppenheimer began coverage on shares of Entrada Therapeutics in a report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.50.

View Our Latest Analysis on TRDA

Entrada Therapeutics Company Profile

(Get Free Report)

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.

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