Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $11,768.30 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Ventures L.P. 5Am sold 1,718 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $6.85, for a total transaction of $11,768.30. Following the completion of the sale, the insider directly owned 2,846,592 shares in the company, valued at $19,499,155.20. This represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 Price Performance

TRDA stock traded up $0.47 during trading hours on Monday, reaching $7.26. 500,498 shares of the stock were exchanged, compared to its average volume of 329,656. The firm’s 50-day moving average is $6.83 and its 200-day moving average is $9.84. The company has a market cap of $281.84 million, a price-to-earnings ratio of -1.82 and a beta of -0.26. Entrada Therapeutics, Inc. has a 12 month low of $4.93 and a 12 month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.11. The company had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $2.92 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. As a group, equities research analysts forecast that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Guggenheim lowered their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Roth Capital set a $10.00 price target on shares of Entrada Therapeutics in a research report on Friday, May 8th. Finally, Oppenheimer increased their price objective on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.50.

Institutional Investors Weigh In On Entrada Therapeutics

Large investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP grew its stake in shares of Entrada Therapeutics by 4.3% in 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 in the last quarter. Wellington Management Group LLP lifted its stake in Entrada Therapeutics by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after acquiring an additional 90,339 shares during the last quarter. Millennium Management LLC grew its position 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 valued at $4,852,000 after acquiring an additional 666,287 shares during the period. Geode Capital Management LLC grew its position in shares of Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after acquiring an additional 42,479 shares during the period. Finally, State Street Corp increased its stake in shares of Entrada Therapeutics by 2.0% during the 4th quarter. State Street Corp now owns 508,789 shares of the company’s stock worth $5,230,000 after purchasing an additional 10,174 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.