Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 28,837 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total value of $205,607.81. Following the sale, the insider owned 3,885,115 shares of the company’s stock, valued at approximately $27,700,869.95. This trade represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Bioventures 2018 L.P. Mpm also recently made the following trade(s):

• On Tuesday, September 8th, Bioventures 2018 L.P. Mpm sold 192,500 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.41, for a total transaction of $1,426,425.00.
• On Friday, September 4th, Bioventures 2018 L.P. Mpm sold 38,500 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.11, for a total transaction of $273,735.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.19, for a total transaction of $180,691.89.
• On Tuesday, September 1st, Bioventures 2018 L.P. Mpm sold 29,088 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.06, for a total transaction of $205,361.28.
• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.99, for a total transaction of $309,370.41.
• On Friday, August 28th, Bioventures 2018 L.P. Mpm sold 3,733 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.01, for a total value of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Trading Down 5.5%

Shares of Entrada Therapeutics stock opened at $7.11 on Thursday. The business’s 50-day moving average price is $7.05 and its 200-day moving average price is $9.09. The firm has a market capitalization of $276.86 million, a PE ratio of -1.80 and a beta of -0.25. Entrada Therapeutics, Inc. has a 12 month low of $5.02 and a 12 month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The firm 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, analysts predict that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Entrada Therapeutics

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

Analyst Ratings Changes

TRDA has been the subject of several analyst reports. Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Roth Capital reissued a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Guggenheim lowered their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Finally, Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.75.

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.