Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Ventures L.P. 5Am Sells 10,494 Shares

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

Entrada Therapeutics Trading Up 1.2%

Shares of NASDAQ:TRDA opened at $6.95 on Tuesday. The company has a fifty day simple moving average of $6.86 and a 200 day simple moving average of $9.68. The firm has a market cap of $270.63 million, a PE ratio of -1.76 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 Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. As a group, equities research analysts forecast that Entrada Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after buying an additional 42,479 shares in the last quarter. Rhumbline Advisers raised its position in Entrada Therapeutics by 8.3% in the second quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock worth $263,000 after acquiring an additional 2,982 shares in the last quarter. American Century Companies Inc. lifted its holdings in Entrada Therapeutics by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock valued at $505,000 after acquiring an additional 7,301 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Entrada Therapeutics by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock valued at $190,000 after acquiring an additional 5,370 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Entrada Therapeutics by 34.2% during the 2nd quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock valued at $150,000 after purchasing an additional 5,702 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics News Summary

Here are the key news stories impacting Entrada Therapeutics this week:

• Negative Sentiment: Major shareholder Ventures V. L.P. 5Am reported selling 62,811 shares across August 6 and August 7 for approximately $431,829. The transactions reduced its reported ownership by about 2.2%, signaling some disposition of shares. SEC filing on Ventures V. L.P. 5Am share sales
• Negative Sentiment: Director Kush Parmar reported selling 155,255 shares in three transactions from August 6 through August 10 for approximately $1.08 million. The sales reduced his position by roughly 5.5%, adding to concerns about insider confidence in the near term. SEC filing on Kush Parmar share sales
• Neutral Sentiment: Despite the sales, the filings indicate that Ventures V. L.P. 5Am and Parmar continued to hold millions of TRDA shares, so the transactions represent relatively modest reductions in their overall stakes rather than complete exits.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRDA shares. Guggenheim reduced 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 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 lowered shares of 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 equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.50.

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.