Entrada Therapeutics (NASDAQ:TRDA) Given New $28.00 Price Target at Oppenheimer

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

Separately, HC Wainwright increased their target price 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 Stock Performance

Shares of TRDA stock opened at $18.66 on Wednesday. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $19.78. The stock has a market cap of $694.15 million, a price-to-earnings ratio of 6.30 and a beta of -0.26. The firm has a fifty day moving average of $16.33 and a 200-day moving average of $15.61.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. The company had revenue of $94.69 million during the quarter, compared to analysts’ expectations of $55.00 million. On average, sell-side analysts predict that Entrada Therapeutics will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the stock in a transaction dated 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 directly owns 183,816 shares in the company, valued at approximately $2,773,783.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,187 shares of company stock valued at $155,947 in the last 90 days. 7.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Entrada Therapeutics by 3.9% in the 2nd 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. US Bancorp DE bought a new position in Entrada Therapeutics during the 3rd quarter worth approximately $42,000. Acadian Asset Management LLC bought a new position in Entrada Therapeutics during the 1st quarter worth approximately $79,000. Rhumbline Advisers raised its holdings in Entrada Therapeutics by 25.3% during the 2nd quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after buying an additional 7,452 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Entrada Therapeutics during the 3rd quarter worth approximately $156,000. Institutional investors own 86.39% of the company’s stock.

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.