Entrada Therapeutics (NASDAQ:TRDA) Announces Earnings Results

by · The Cerbat Gem

Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) issued its earnings results on Wednesday. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.04, FiscalAI reports. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.23 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%.

Entrada Therapeutics Stock Performance

Shares of TRDA traded down $0.18 during midday trading on Wednesday, hitting $7.06. 591,549 shares of the company traded hands, compared to its average volume of 475,060. The stock has a market cap of $274.07 million, a price-to-earnings ratio of -1.77 and a beta of -0.26. The firm has a 50 day moving average of $6.86 and a 200-day moving average of $9.77. Entrada Therapeutics has a 52 week low of $4.93 and a 52 week high of $16.45.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRDA. Guggenheim dropped their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 8th. HC Wainwright cut shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Roth Capital set a $10.00 price target on Entrada Therapeutics in a research report on Friday, May 8th. Finally, Weiss Ratings cut Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.50.

View Our Latest Report on Entrada Therapeutics

Insider Buying and Selling

In other Entrada Therapeutics news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the insider owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kush Parmar sold 114,756 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the director directly owned 2,848,310 shares in the company, valued at $19,738,788.30. This trade represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 232,948 shares of company stock worth $1,614,055. Corporate insiders own 9.49% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of Entrada Therapeutics by 41.1% in the fourth quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock valued at $422,000 after purchasing an additional 11,958 shares during the period. XTX Topco Ltd lifted its position in Entrada Therapeutics by 26.4% during the fourth quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock worth $1,210,000 after buying an additional 24,589 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 worth $10,740,000 after acquiring an additional 90,339 shares during the period. Sphera Funds Management LTD. acquired a new position in Entrada Therapeutics in the 4th quarter valued at about $1,140,000. Finally, Quadrature Capital Ltd grew its position in Entrada Therapeutics by 13.5% in the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after acquiring an additional 2,424 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

About Entrada Therapeutics

(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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