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Entrada Therapeutics (TRDA) Moves 10.4% Higher: Will This Strength Last?
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Entrada Therapeutics, Inc. (TRDA - Free Report) shares rallied 10.4% in the last trading session to close at $17.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.9% loss over the past four weeks.
Last month, the company announced positive preliminary data from its phase I ENTR-601-44-101 study, which evaluated its lead pipeline candidate, ENTR-601-44, as a potential treatment for Duchenne Muscular Dystrophy. Treatment with ENTR-601-44 was generally well-tolerated in healthy volunteers while no serious adverse events were reported. This might have driven the share price rally.
This company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +183.3%. Revenues are expected to be $55 million, up 202.7% 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 been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 part of the Zacks Medical - Biomedical and Genetics industry. Absci Corporation (ABSI - Free Report) , another stock in the same industry, closed the last trading session 11.6% higher at $4.03. ABSI has returned -27.2% in the past month.
For Absci Corporation, the consensus EPS estimate for the upcoming report has changed +2.1% over the past month to -$0.19. This represents a change of +29.6% from what the company reported a year ago. Absci Corporation currently has a Zacks Rank of #3 (Hold).
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Entrada Therapeutics (TRDA) Moves 10.4% Higher: Will This Strength Last?
Entrada Therapeutics, Inc. (TRDA - Free Report) shares rallied 10.4% in the last trading session to close at $17.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.9% loss over the past four weeks.
Last month, the company announced positive preliminary data from its phase I ENTR-601-44-101 study, which evaluated its lead pipeline candidate, ENTR-601-44, as a potential treatment for Duchenne Muscular Dystrophy. Treatment with ENTR-601-44 was generally well-tolerated in healthy volunteers while no serious adverse events were reported. This might have driven the share price rally.
This company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +183.3%. Revenues are expected to be $55 million, up 202.7% 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 been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Entrada Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Absci Corporation (ABSI - Free Report) , another stock in the same industry, closed the last trading session 11.6% higher at $4.03. ABSI has returned -27.2% in the past month.
For Absci Corporation, the consensus EPS estimate for the upcoming report has changed +2.1% over the past month to -$0.19. This represents a change of +29.6% from what the company reported a year ago. Absci Corporation currently has a Zacks Rank of #3 (Hold).