Entrada Therapeutics (NASDAQ:TRDA) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reissued their outperform rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note issued to investors on Monday, Benzinga reports. Oppenheimer currently has a $25.00 target price on the stock.

Separately, HC Wainwright reaffirmed a buy rating and set a $18.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 14th.

Entrada Therapeutics Trading Down 2.3 %

Shares of Entrada Therapeutics stock opened at $16.32 on Monday. Entrada Therapeutics has a twelve month low of $10.75 and a twelve month high of $18.17. The stock has a market capitalization of $550.95 million, a P/E ratio of 25.90 and a beta of -0.25. The business’s fifty day moving average price is $15.75 and its 200 day moving average price is $14.54.

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, topping 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 for the quarter, compared to analyst estimates of $55.00 million. As a group, sell-side analysts predict that Entrada Therapeutics will post 0.52 EPS for the current year.

Insider Activity at Entrada Therapeutics

In related news, CEO Dipal Doshi sold 1,600 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.81, for a total value of $28,496.00. Following the completion of the sale, the chief executive officer now directly owns 334,475 shares of the company’s stock, valued at $5,956,999.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Dipal Doshi sold 1,600 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.81, for a total value of $28,496.00. Following the completion of the sale, the chief executive officer now directly owns 334,475 shares of the company’s stock, valued at $5,956,999.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kory James Wentworth sold 1,758 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.95, for a total value of $26,282.10. Following the completion of the sale, the chief financial officer now directly owns 81,412 shares of the company’s stock, valued at $1,217,109.40. The disclosure for this sale can be found here. Insiders sold a total of 5,896 shares of company stock valued at $98,632 over the last three months. 7.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Entrada Therapeutics by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock valued at $814,000 after purchasing an additional 2,146 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Entrada Therapeutics by 27.5% during the second quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock valued at $940,000 after purchasing an additional 14,220 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Entrada Therapeutics during the second quarter valued at approximately $636,000. American Century Companies Inc. grew its holdings 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 during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Entrada Therapeutics by 135.1% during the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock valued at $190,000 after purchasing an additional 7,682 shares during the last quarter. 86.39% of the stock is 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.