What is HC Wainwright’s Forecast for TRDA FY2024 Earnings?

Entrada Therapeutics, Inc. (NASDAQ:TRDA) – Analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Entrada Therapeutics in a research note issued to investors on Wednesday, November 6th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of $1.04 per share for the year, up from their previous estimate of $0.88. HC Wainwright currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Entrada Therapeutics’ current full-year earnings is $0.68 per share.

Separately, Oppenheimer lifted their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday.

Entrada Therapeutics Stock Up 0.2 %

Shares of NASDAQ TRDA opened at $18.66 on Thursday. The company’s fifty day simple moving average is $16.33 and its 200 day simple moving average is $15.61. The firm has a market cap of $694.15 million, a PE ratio of 6.30 and a beta of -0.26. Entrada Therapeutics has a 12-month low of $10.75 and a 12-month high of $19.78.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. The business had revenue of $94.69 million during the quarter, compared to the consensus estimate of $55.00 million.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Entrada Therapeutics in the 2nd quarter worth $636,000. Los Angeles Capital Management LLC bought a new position in shares of Entrada Therapeutics in the 3rd quarter worth approximately $542,000. BayBridge Capital Group LLC purchased a new position in shares of Entrada Therapeutics in the 3rd quarter valued at approximately $464,000. American Century Companies Inc. boosted its position in shares of Entrada Therapeutics by 5.1% during the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock valued at $5,486,000 after purchasing an additional 18,625 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in Entrada Therapeutics by 71.8% in the third quarter. GSA Capital Partners LLP now owns 36,577 shares of the company’s stock worth $585,000 after purchasing an additional 15,284 shares during the period. Institutional investors own 86.39% of the company’s stock.

Insider Activity

In related news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.97, for a total transaction of $47,829.15. Following the completion of the sale, the chief financial officer now directly owns 76,486 shares in the company, valued at $1,144,995.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.97, for a total transaction of $47,829.15. Following the completion of the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Nathan J. Dowden sold 1,904 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the completion of the transaction, the chief operating officer now owns 125,996 shares in the company, valued at $1,898,759.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,187 shares of company stock worth $155,947. 7.59% of the stock is currently owned by insiders.

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.