Oppenheimer Issues Positive Forecast for Entrada Therapeutics (NASDAQ:TRDA) Stock Price

Entrada Therapeutics (NASDAQ:TRDA - Free Report) had its price objective raised by Oppenheimer from $25.00 to $28.00 in a report released on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Separately, HC Wainwright raised their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday.

Entrada Therapeutics Trading Up 0.2 %

Shares of NASDAQ TRDA traded up $0.04 during mid-day trading on Wednesday, reaching $18.66. The company had a trading volume of 247,621 shares, compared to its average volume of 104,558. The firm has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $15.59. The stock has a market cap of $694.15 million, a P/E ratio of 6.27 and a beta of -0.26. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $19.78.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.90. The company had revenue of $94.69 million for the quarter, compared to the consensus estimate of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. On average, equities analysts expect that Entrada Therapeutics will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics stock in a transaction dated 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 directly owns 76,486 shares in the company, valued at $1,144,995.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of the business's stock in a transaction that occurred 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 directly owns 76,486 shares in the company, valued at $1,144,995.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 183,816 shares of the company's stock, valued at approximately $2,773,783.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,187 shares of company stock worth $155,947. Insiders own 7.59% of the company's stock.

Institutional Trading of Entrada Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its position in shares of Entrada Therapeutics by 71.8% during the third quarter. GSA Capital Partners LLP now owns 36,577 shares of the company's stock worth $585,000 after acquiring an additional 15,284 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Entrada Therapeutics in the 3rd quarter valued at about $542,000. US Bancorp DE acquired a new stake in Entrada Therapeutics in the 3rd quarter valued at about $42,000. BayBridge Capital Group LLC acquired a new stake in Entrada Therapeutics in the 3rd quarter valued at about $464,000. Finally, SG Americas Securities LLC purchased a new stake in Entrada Therapeutics during the third quarter valued at about $156,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

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.