Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) COO Sells $155,216.70 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) COO Nathan Dowden sold 11,894 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the completion of the transaction, the chief operating officer owned 198,588 shares of the company’s stock, valued at $2,591,573.40. The trade was a 5.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Entrada Therapeutics Stock Down 2.2%

NASDAQ TRDA opened at $12.69 on Friday. The company has a market cap of $485.77 million, a price-to-earnings ratio of -3.67 and a beta of -0.12. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $13.65. The business’s fifty day moving average is $11.34 and its 200 day moving average is $8.94.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, research analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TRDA. Invesco Ltd. increased its position in Entrada Therapeutics by 41.1% during the 4th quarter. Invesco Ltd. now owns 41,033 shares of the company’s stock valued at $422,000 after purchasing an additional 11,958 shares during the period. XTX Topco Ltd lifted its position in shares of Entrada Therapeutics by 26.4% in the 4th quarter. XTX Topco Ltd now owns 117,668 shares of the company’s stock worth $1,210,000 after purchasing an additional 24,589 shares during the period. Wellington Management Group LLP boosted its stake 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 purchasing an additional 90,339 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Entrada Therapeutics in the 4th quarter valued at $1,140,000. Finally, Quadrature Capital Ltd increased its position in shares of Entrada Therapeutics by 13.5% during the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Oppenheimer assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, January 28th. They set an “outperform” rating and a $21.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

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.