Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $26,168.33 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 3,733 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $7.01, for a total value of $26,168.33. Following the transaction, the insider directly owned 4,275,693 shares of the company’s stock, valued at approximately $29,972,607.93. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 value of $309,370.41.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Stock Up 3.3%

TRDA opened at $7.30 on Thursday. The business has a 50 day moving average price of $7.08 and a two-hundred day moving average price of $9.23. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45. The company has a market cap of $284.24 million, a PE ratio of -1.84 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. As a group, sell-side analysts expect that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP lifted its holdings in shares of Entrada Therapeutics by 4.3% during the 4th quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after buying an additional 206,911 shares during the last quarter. 5AM Venture Management LLC acquired a new position in Entrada Therapeutics in the 2nd quarter valued at $29,854,949. BlackRock Inc. bought a new position in shares of Entrada Therapeutics in the second quarter worth about $19,013,000. Wellington Management Group LLP increased its position in Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock worth $10,740,000 after buying an additional 90,339 shares during the period. Finally, Millennium Management LLC increased its position in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after acquiring an additional 666,287 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TRDA shares. Roth Capital reiterated a “buy” rating and set a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Guggenheim dropped their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.