Entrada Therapeutics (NASDAQ:TRDA) Earns Buy Rating from HC Wainwright

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 109.21% from the company’s current price.

Other analysts have also issued reports about the stock. Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Roth Mkm began coverage on shares of Entrada Therapeutics in a research report on Thursday, December 5th. They issued a “buy” rating and a $29.00 price target for the company.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $9.56 on Monday. The firm has a market cap of $359.41 million, a PE ratio of 6.01 and a beta of -0.14. The firm’s 50 day simple moving average is $11.99 and its 200-day simple moving average is $15.42. Entrada Therapeutics has a one year low of $9.51 and a one year high of $21.79.

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

Hedge Funds Weigh In On Entrada Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Entrada Therapeutics in the 4th quarter worth approximately $36,000. BNP Paribas Financial Markets purchased a new position in Entrada Therapeutics in the fourth quarter worth $57,000. Virtus ETF Advisers LLC purchased a new position in Entrada Therapeutics in the fourth quarter worth $68,000. AlphaQuest LLC acquired a new position in shares of Entrada Therapeutics during the fourth quarter worth $70,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 53,455.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company’s stock valued at $83,000 after purchasing an additional 4,811 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors.

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.