Bioventures 2018 L.P. Mpm Sells 192,500 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $7.41, for a total value of $1,426,425.00. Following the completion of the sale, the insider directly owned 3,913,952 shares of the company’s stock, valued at approximately $29,002,384.32. This represents a 4.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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 Wednesday, September 9th, Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.13, for a total transaction of $205,607.81.
• On Friday, September 4th, Bioventures 2018 L.P. Mpm sold 38,500 shares of Entrada Therapeutics stock. The stock was 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 shares were 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 stock was sold at an average price of $7.01, for a total transaction 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 transaction of $280,238.40.

Entrada Therapeutics Price Performance

NASDAQ TRDA traded down $0.41 during trading on Wednesday, hitting $7.11. 381,776 shares of the company’s stock traded hands, compared to its average volume of 247,577. The stock has a fifty day moving average of $7.05 and a two-hundred day moving average of $9.09. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The firm has a market cap of $276.86 million, a P/E ratio of -1.80 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data 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. As a group, analysts expect that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TRDA shares. Weiss Ratings upgraded shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Roth Capital reiterated a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Guggenheim cut their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. 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 company’s stock. Based on data from MarketBeat, Entrada Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $17.75.

Institutional Trading of Entrada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP raised its stake in Entrada Therapeutics by 4.3% during the fourth 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 purchased a new stake in shares of Entrada Therapeutics during the second quarter valued at approximately $29,854,949. BlackRock Inc. purchased a new stake in Entrada Therapeutics during the 2nd quarter valued at $19,013,000. Wellington Management Group LLP boosted its stake in Entrada Therapeutics by 9.5% during 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. Finally, Millennium Management LLC increased its holdings 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 worth $4,852,000 after purchasing an additional 666,287 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

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.