Ventures L.P. 5Am Sells 200,000 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Ventures L.P. 5Am sold 200,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $8.80, for a total value of $1,760,000.00. Following the completion of the sale, the insider owned 2,963,066 shares of the company’s stock, valued at $26,074,980.80. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Entrada Therapeutics Price Performance

NASDAQ:TRDA traded up $0.35 during mid-day trading on Tuesday, reaching $8.82. The stock had a trading volume of 330,970 shares, compared to its average volume of 187,747. Entrada Therapeutics, Inc. has a 12 month low of $4.93 and a 12 month high of $21.79. The stock has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $6.66. The stock has a market capitalization of $337.10 million, a PE ratio of -3.54 and a beta of -0.09.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). The company had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. Equities analysts expect that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

TRDA has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Entrada Therapeutics in a report on Wednesday, October 8th. Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Roth Capital set a $13.00 price target on Entrada Therapeutics in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRDA. Merck & Co. Inc. bought a new position in shares of Entrada Therapeutics in the first quarter valued at approximately $15,728,000. Millennium Management LLC raised its position in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after buying an additional 666,287 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Entrada Therapeutics by 234.5% in the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after purchasing an additional 235,384 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Entrada Therapeutics by 115.3% during the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock worth $1,670,000 after acquiring an additional 154,143 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Entrada Therapeutics by 4,767.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock valued at $860,000 after purchasing an additional 145,167 shares during the last quarter. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

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.