HC Wainwright Has Positive Outlook of TRDA FY2024 Earnings

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) - Equities researchers at HC Wainwright increased their FY2024 earnings per share estimates for Entrada Therapeutics in a research report issued 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 prior estimate of $0.88. HC Wainwright has a "Buy" rating and a $20.00 price objective on the stock. The consensus estimate for Entrada Therapeutics' current full-year earnings is $0.68 per share.

Separately, Oppenheimer boosted their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA traded up $0.57 during trading on Thursday, reaching $19.23. 276,281 shares of the stock were exchanged, compared to its average volume of 105,353. Entrada Therapeutics has a 1-year low of $10.75 and a 1-year high of $19.85. The stock has a fifty day moving average of $16.33 and a two-hundred day moving average of $15.61. The firm has a market cap of $715.36 million, a price-to-earnings ratio of 6.30 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.90. The company had revenue of $94.69 million during the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%.

Insider Buying and Selling

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics 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 transaction, the chief financial officer now owns 76,486 shares of the company's stock, valued at $1,144,995.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Natarajan Sethuraman sold 2,642 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.09, for a total value of $39,867.78. Following the completion of the transaction, the insider now directly owns 183,816 shares of the company's stock, valued at $2,773,783.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $47,829.15. Following the sale, the chief financial officer now directly owns 76,486 shares in the company, valued at $1,144,995.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,187 shares of company stock worth $155,947. 7.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TRDA. GSA Capital Partners LLP increased its holdings in shares of 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. Los Angeles Capital Management LLC bought a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at about $542,000. US Bancorp DE bought a new position in shares of Entrada Therapeutics in the third quarter worth approximately $42,000. BayBridge Capital Group LLC purchased a new stake in Entrada Therapeutics in the third quarter valued at approximately $464,000. Finally, SG Americas Securities LLC bought a new stake in Entrada Therapeutics during the third quarter valued at approximately $156,000. 86.39% of the stock is currently owned by 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.