Entrada Therapeutics (NASDAQ:TRDA) Price Target Raised to $28.00 at Oppenheimer

Entrada Therapeutics (NASDAQ:TRDA) had its price objective upped by Oppenheimer from $25.00 to $28.00 in a research report report published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Separately, HC Wainwright boosted their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday.

Entrada Therapeutics Price Performance

TRDA stock opened at $18.66 on Wednesday. The company has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $15.61. Entrada Therapeutics has a one year low of $10.75 and a one year 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.

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, beating analysts’ consensus estimates of $0.65 by $0.90. The company had revenue of $94.69 million during the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. Research analysts anticipate that Entrada Therapeutics will post 0.68 EPS for the current fiscal year.

Insider Activity at Entrada Therapeutics

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. US Bancorp DE acquired a new position in Entrada Therapeutics during the third quarter worth about $42,000. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics during the first quarter worth about $79,000. SG Americas Securities LLC acquired a new position in Entrada Therapeutics during the third quarter worth about $156,000. Allspring Global Investments Holdings LLC raised its stake in Entrada Therapeutics by 427.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after acquiring an additional 11,965 shares in the last quarter. Finally, BayBridge Capital Group LLC acquired a new position in shares of Entrada Therapeutics in the third quarter valued at approximately $464,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.