HC Wainwright Has Positive Outlook of TRDA FY2024 Earnings

Entrada Therapeutics, Inc. (NASDAQ:TRDA) – Equities researchers at HC Wainwright raised their FY2024 earnings per share estimates for shares of Entrada Therapeutics in a research note issued on Wednesday, November 6th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of $1.04 per share for the year, up from their previous forecast 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.

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

Separately, Oppenheimer lifted their price target on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday.

Entrada Therapeutics Price Performance

Shares of Entrada Therapeutics stock opened at $19.23 on Thursday. The firm has a market cap of $715.36 million, a price-to-earnings ratio of 6.50 and a beta of -0.26. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $19.85. The stock has a 50-day simple moving average of $16.36 and a 200-day simple moving average of $15.63.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted 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 worth $814,000 after buying an additional 2,146 shares during the last quarter. US Bancorp DE acquired a new position in shares of Entrada Therapeutics during the third quarter worth approximately $42,000. Acadian Asset Management LLC acquired a new position in shares of Entrada Therapeutics during the first quarter worth approximately $79,000. Rhumbline Advisers lifted its holdings in shares of Entrada Therapeutics by 25.3% during the second 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Entrada Therapeutics during the third quarter worth approximately $156,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 183,816 shares in the company, valued at approximately $2,773,783.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 183,816 shares in the company, valued at approximately $2,773,783.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kory James Wentworth sold 3,195 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $14.97, for a total value of $47,829.15. Following the completion of the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at approximately $1,144,995.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,187 shares of company stock worth $155,947. 7.59% of the stock is currently owned by insiders.

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.