Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells $795,259.08 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the transaction, the director owned 2,848,310 shares of the company’s stock, valued at $19,738,788.30. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kush Parmar also recently made the following trade(s):

• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total transaction of $11,768.30.

Entrada Therapeutics Trading Down 2.5%

Shares of NASDAQ TRDA opened at $7.06 on Thursday. The company has a fifty day moving average price of $6.86 and a 200 day moving average price of $9.77. The firm has a market cap of $274.07 million, a PE ratio of -1.77 and a beta of -0.26. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.03. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.23 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. Equities research analysts forecast that Entrada Therapeutics, Inc. will post -4.12 EPS for the current year.

Wall Street Analysts Forecast Growth

TRDA has been the subject of a number of recent research reports. HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Roth Capital set a $10.00 price objective on shares of Entrada Therapeutics in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Finally, Guggenheim decreased their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Baker BROS. Advisors LP grew its stake in Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after purchasing an additional 206,911 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after buying an additional 90,339 shares during the last quarter. Millennium Management LLC grew its position in shares of Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after acquiring an additional 666,287 shares during the period. Geode Capital Management LLC grew its holdings in Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after purchasing an additional 42,479 shares during the period. Finally, State Street Corp increased its position in Entrada Therapeutics by 2.0% during the fourth quarter. State Street Corp now owns 508,789 shares of the company’s stock worth $5,230,000 after buying an additional 10,174 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

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.