Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $102,857.14 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value of $102,857.14. Following the sale, the insider owned 4,318,348 shares in the company, valued at approximately $30,487,536.88. This trade represents a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Bioventures 2014 L.P. Mpm also recently made the following trade(s):

• On Tuesday, August 25th, Bioventures 2014 L.P. Mpm sold 26,522 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.54, for a total value of $199,975.88.
• On Monday, August 24th, Bioventures 2014 L.P. Mpm sold 21,623 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.34, for a total value of $158,712.82.

Entrada Therapeutics Stock Down 3.7%

TRDA opened at $7.00 on Friday. The firm has a market cap of $272.58 million, a P/E ratio of -1.77 and a beta of -0.26. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45. The business’s fifty day simple moving average is $7.08 and its 200 day simple moving average is $9.32.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.32 million. As a group, equities analysts expect that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analysts Set New Price Targets

TRDA has been the subject of a number of analyst reports. Guggenheim cut 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. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. Roth Capital reiterated a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Finally, HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Hedge Funds Weigh In On Entrada Therapeutics

A number of large investors have recently modified their holdings of the company. 5AM Venture Management LLC acquired a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $29,854,949. BlackRock Inc. acquired a new stake in Entrada Therapeutics during the 2nd quarter worth approximately $19,013,000. Millennium Management LLC increased its position in Entrada Therapeutics by 391.2% during 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. Nantahala Capital Management LLC acquired a new stake in Entrada Therapeutics during the 2nd quarter worth approximately $2,212,232. Finally, Citadel Advisors LLC raised its holdings in Entrada Therapeutics by 234.5% in the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock valued at $1,947,000 after buying an additional 235,384 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

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.