Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells 10,494 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Ventures L.P. 5Am sold 10,494 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $7.00, for a total value of $73,458.00. Following the completion of the transaction, the insider directly owned 2,836,098 shares of the company’s stock, valued at approximately $19,852,686. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Entrada Therapeutics Stock Performance

TRDA traded up $0.08 on Monday, hitting $6.95. The company had a trading volume of 411,770 shares, compared to its average volume of 464,800. The stock has a market capitalization of $270.63 million, a price-to-earnings ratio of -1.76 and a beta of -0.26. The stock has a fifty day moving average price of $6.86 and a 200-day moving average price of $9.68. Entrada Therapeutics, Inc. has a 12-month low of $4.93 and a 12-month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results 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 firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.32 million. Analysts forecast that Entrada Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC purchased a new stake in Entrada Therapeutics in the second quarter valued at $283,000. BlackRock Inc. acquired a new stake in 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 valued at about $195,000. Bank of New York Mellon Corp acquired a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $582,000. Finally, State of Wyoming acquired a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $37,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRDA has been the topic of several analyst reports. 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. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings cut Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Finally, Roth Capital set a $10.00 price target on Entrada Therapeutics in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Entrada Therapeutics presently has an average rating of “Hold” and an average target price of $17.50.

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.