Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $158,712.82 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2014 L.P. Mpm sold 21,623 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $7.34, for a total transaction of $158,712.82. Following the completion of the transaction, the insider directly owned 4,359,439 shares of the company’s stock, valued at approximately $31,998,282.26. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bioventures 2014 L.P. Mpm also recently made the following trade(s):

• On Wednesday, August 26th, Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.06, for a total value of $102,857.14.
• On Tuesday, August 25th, Bioventures 2014 L.P. Mpm sold 26,522 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.54, for a total value of $199,975.88.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $7.00 on Friday. Entrada Therapeutics, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $16.45. The firm has a market capitalization of $272.58 million, a price-to-earnings ratio of -1.77 and a beta of -0.26. The stock’s fifty day moving average is $7.08 and its two-hundred day moving average is $9.32.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The business had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Guggenheim lowered their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Roth Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. HC Wainwright cut Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Entrada Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently bought and sold shares of TRDA. State of Wyoming purchased a new stake in Entrada Therapeutics in the 2nd quarter worth approximately $37,000. Russell Investments Group Ltd. lifted its stake in shares of Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics during the second quarter worth $68,000. Jain Global LLC acquired a new stake in shares of Entrada Therapeutics during the third quarter worth $69,000. Finally, IHT Wealth Management LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter valued at $72,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Entrada Therapeutics

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.