HC Wainwright Reiterates Buy Rating for Entrada Therapeutics (NASDAQ:TRDA)

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 109.21% from the stock’s current price.

TRDA has been the subject of a number of other research reports. Roth Mkm initiated coverage on shares of Entrada Therapeutics in a report on Thursday, December 5th. They issued a “buy” rating and a $29.00 price target for the company. Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th.

Entrada Therapeutics Trading Down 4.0 %

Shares of TRDA stock opened at $9.56 on Monday. The stock has a market capitalization of $359.41 million, a price-to-earnings ratio of 6.01 and a beta of -0.14. Entrada Therapeutics has a 12-month low of $9.51 and a 12-month high of $21.79. The stock’s 50-day moving average price is $11.99 and its 200-day moving average price is $15.42.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.69. The business had revenue of $12.25 million for the quarter, compared to the consensus estimate of $11.95 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. As a group, research analysts predict that Entrada Therapeutics will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Entrada Therapeutics

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Entrada Therapeutics by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 185,984 shares of the company’s stock worth $2,972,000 after purchasing an additional 23,643 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Entrada Therapeutics by 34.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock worth $226,000 after acquiring an additional 3,644 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of Entrada Therapeutics by 36.9% during the 3rd quarter. Martingale Asset Management L P now owns 37,923 shares of the company’s stock worth $606,000 after acquiring an additional 10,226 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Entrada Therapeutics by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,711,459 shares of the company’s stock valued at $27,358,000 after acquiring an additional 161,962 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Entrada Therapeutics by 50.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company’s stock valued at $3,225,000 after acquiring an additional 67,559 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.