Entrada Therapeutics (NASDAQ:TRDA) Director Kush Parmar Sells 10,494 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 10,494 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $7.00, for a total transaction of $73,458.00. Following the completion of the sale, the director owned 2,836,098 shares in the company, valued at approximately $19,852,686. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 10th, Kush Parmar sold 92,444 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total transaction of $647,108.00.
• On Friday, August 7th, Kush Parmar sold 52,317 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total transaction of $358,371.45.
• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.85, for a total transaction of $11,768.30.
• On Thursday, July 30th, Kush Parmar sold 114,756 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.93, for a total value of $795,259.08.

Entrada Therapeutics Stock Performance

Shares of TRDA stock opened at $6.95 on Tuesday. Entrada Therapeutics, Inc. has a 52-week low of $4.93 and a 52-week high of $16.45. The stock has a fifty day simple moving average of $6.86 and a two-hundred day simple moving average of $9.68. The firm has a market capitalization of $270.63 million, a PE ratio of -1.76 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. On average, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Key Headlines Impacting Entrada Therapeutics

Here are the key news stories impacting Entrada Therapeutics this week:

• Negative Sentiment: Major shareholder Ventures V. L.P. 5Am reported selling 62,811 shares across August 6 and August 7 for approximately $431,829. The transactions reduced its reported ownership by about 2.2%, signaling some disposition of shares. SEC filing on Ventures V. L.P. 5Am share sales
• Negative Sentiment: Director Kush Parmar reported selling 155,255 shares in three transactions from August 6 through August 10 for approximately $1.08 million. The sales reduced his position by roughly 5.5%, adding to concerns about insider confidence in the near term. SEC filing on Kush Parmar share sales
• Neutral Sentiment: Despite the sales, the filings indicate that Ventures V. L.P. 5Am and Parmar continued to hold millions of TRDA shares, so the transactions represent relatively modest reductions in their overall stakes rather than complete exits.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRDA. Great Lakes Advisors LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter valued at $283,000. BlackRock Inc. purchased a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $19,013,000. Deutsche Bank AG purchased a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $195,000. Bank of New York Mellon Corp bought a new position in Entrada Therapeutics during the 2nd quarter valued at about $582,000. Finally, State of Wyoming bought a new position in Entrada Therapeutics during the 2nd quarter valued at about $37,000. Institutional investors own 86.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRDA. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Guggenheim lowered their price objective 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. Roth Capital set a $10.00 price objective on shares of Entrada Therapeutics in a research note on Friday, May 8th. Finally, HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.50.

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.