Entrada Therapeutics (NASDAQ:TRDA) Announces Quarterly Earnings Results

by · The Markets Daily

Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) announced its earnings results on Thursday. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.02), Zacks reports. Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. The company had revenue of $12.00 million for the quarter, compared to the consensus estimate of $8.62 million.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA traded up $0.01 during mid-day trading on Thursday, hitting $6.95. The stock had a trading volume of 367,225 shares, compared to its average volume of 204,921. Entrada Therapeutics has a 1 year low of $4.93 and a 1 year high of $21.79. The business has a 50 day moving average price of $5.93 and a two-hundred day moving average price of $6.73. The firm has a market cap of $264.38 million, a P/E ratio of -3.90 and a beta of -0.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Wyoming increased its stake in shares of Entrada Therapeutics by 130.9% in the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after buying an additional 4,295 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Entrada Therapeutics in the second quarter worth $68,000. IHT Wealth Management LLC purchased a new position in shares of Entrada Therapeutics in the second quarter worth $72,000. Man Group plc purchased a new position in Entrada Therapeutics during the 2nd quarter valued at $113,000. Finally, Walleye Capital LLC purchased a new position in Entrada Therapeutics during the 2nd quarter valued at $117,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TRDA. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a research note on Wednesday, October 8th. Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th. Finally, Roth Capital set a $13.00 price target on shares of Entrada Therapeutics in a research note on Thursday. One equities research 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 given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Get Our Latest Stock Analysis on TRDA

Entrada Therapeutics Company Profile

(Get Free Report)

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.

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