Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 38,922 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $7.20, for a total transaction of $280,238.40. Following the completion of the transaction, the insider directly owned 4,279,426 shares in the company, valued at approximately $30,811,867.20. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock 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 shares were 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 shares were sold at an average price of $7.01, for a total transaction of $26,168.33.

Entrada Therapeutics Price Performance

NASDAQ TRDA traded up $0.05 on Monday, hitting $7.05. 450,412 shares of the stock were exchanged, compared to its average volume of 325,154. The company’s 50-day moving average price is $7.08 and its two-hundred day moving average price is $9.31. Entrada Therapeutics, Inc. has a 52-week low of $5.02 and a 52-week high of $16.45. The company has a market capitalization of $274.51 million, a price-to-earnings ratio of -1.78 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results 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 business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Equities analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRDA shares. Roth Capital reissued a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Guggenheim cut their target price 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 report on Thursday, August 13th. Finally, HC Wainwright lowered 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.75.

Institutional Trading of Entrada Therapeutics

Several large investors have recently added to or reduced their stakes in the business. 5AM Venture Management LLC acquired a new stake in Entrada Therapeutics in the 2nd quarter valued at approximately $29,854,949. BlackRock Inc. acquired a new position in shares of Entrada Therapeutics during the second quarter worth approximately $19,013,000. Millennium Management LLC lifted its holdings in shares of 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 buying an additional 666,287 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Entrada Therapeutics in the second quarter valued at approximately $2,212,232. Finally, Citadel Advisors LLC boosted its position in shares of 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 acquiring an additional 235,384 shares during the period. 86.39% of the stock is owned by 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.