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Entrada Therapeutics (TRDA) Soars 5.6%: Is Further Upside Left in the Stock?
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Entrada Therapeutics, Inc. (TRDA - Free Report) shares ended the last trading session 5.6% higher at $6.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% loss over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to the company’s lead oligonucleotide programs that are being developed for the potential treatment of people living with Duchenne who are exon 44, 45, 50 and 51 skipping amenable.
This company is expected to post quarterly loss of $0.86 per share in its upcoming report, which represents a year-over-year change of -155.5%. Revenues are expected to be $8.87 million, down 90.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Entrada Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TRDA going forward to see if this recent jump can turn into more strength down the road.
Entrada Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Bicycle Therapeutics PLC Sponsored ADR (BCYC - Free Report) , finished the last trading session 0.1% lower at $8.51. BCYC has returned 21.2% over the past month.
Bicycle Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.95. Compared to the company's year-ago EPS, this represents a change of -23.4%. Bicycle Therapeutics currently boasts a Zacks Rank of #4 (Sell).
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Entrada Therapeutics (TRDA) Soars 5.6%: Is Further Upside Left in the Stock?
Entrada Therapeutics, Inc. (TRDA - Free Report) shares ended the last trading session 5.6% higher at $6.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% loss over the past four weeks.
The sudden price rise can be attributed to growing investor optimism related to the company’s lead oligonucleotide programs that are being developed for the potential treatment of people living with Duchenne who are exon 44, 45, 50 and 51 skipping amenable.
This company is expected to post quarterly loss of $0.86 per share in its upcoming report, which represents a year-over-year change of -155.5%. Revenues are expected to be $8.87 million, down 90.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Entrada Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TRDA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Entrada Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Bicycle Therapeutics PLC Sponsored ADR (BCYC - Free Report) , finished the last trading session 0.1% lower at $8.51. BCYC has returned 21.2% over the past month.
Bicycle Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.95. Compared to the company's year-ago EPS, this represents a change of -23.4%. Bicycle Therapeutics currently boasts a Zacks Rank of #4 (Sell).