Entrada Therapeutics price target lowered to $23 from $29 at Roth MKM

Roth MKM analyst Boobalan Pachaiyappan lowered the firm’s price target on Entrada Therapeutics (TRDA) to $23 from $29 and keeps a Buy rating on the shares after its Q4 results. All three of the company’s clinical programs are gaining traction in the ex-U.S. setting, though investors regard the U.S. clinical development pace to be sub-optimal, evidenced by the market’s lukewarm response post-FDA clinical hold removal, the analyst tells investors in a research note.