Entrada Therapeutics (NASDAQ:TRDA) Stock Price Expected to Rise, Oppenheimer Analyst Says

Entrada Therapeutics (NASDAQ:TRDA) had its target price boosted by Oppenheimer from $25.00 to $28.00 in a research report report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Separately, HC Wainwright lifted their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday.

Entrada Therapeutics Trading Up 3.1 %

Shares of TRDA opened at $19.82 on Wednesday. The stock has a 50 day moving average of $16.40 and a 200 day moving average of $15.70. The company has a market capitalization of $741.66 million, a price-to-earnings ratio of 12.47 and a beta of -0.26. Entrada Therapeutics has a 12 month low of $10.75 and a 12 month high of $19.95.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.90. The firm 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 16.11% and a net margin of 25.53%. As a group, equities research analysts predict that Entrada Therapeutics will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares of the company’s stock, valued at $2,773,783.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the sale, the insider now directly owns 183,816 shares of the company’s stock, valued at $2,773,783.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Nathan J. Dowden sold 1,904 shares of Entrada Therapeutics stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, 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. Insiders sold 10,187 shares of company stock valued at $155,947 over the last ninety days. 7.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Entrada Therapeutics by 132.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock valued at $2,215,000 after purchasing an additional 78,953 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Entrada Therapeutics during the 2nd quarter valued at about $636,000. Los Angeles Capital Management LLC bought a new stake in shares of Entrada Therapeutics during the third quarter valued at about $542,000. BayBridge Capital Group LLC bought a new stake in shares of Entrada Therapeutics during the third quarter valued at about $464,000. Finally, American Century Companies Inc. lifted its holdings in shares of Entrada Therapeutics by 5.1% in the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock worth $5,486,000 after buying an additional 18,625 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.