Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 192,500 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $7.41, for a total value of $1,426,425.00. Following the completion of the sale, the insider directly owned 3,913,952 shares of the company’s stock, valued at approximately $29,002,384.32. This trade represents a 4.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bioventures 2018 L.P. Mpm also recently made the following trade(s):

• On Wednesday, September 9th, Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.13, for a total value of $205,607.81.
• On Friday, September 4th, Bioventures 2018 L.P. Mpm sold 38,500 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.11, for a total value of $273,735.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.17, for a total value of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.19, for a total value of $180,691.89.
• On Tuesday, September 1st, Bioventures 2018 L.P. Mpm sold 29,088 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.06, for a total value of $205,361.28.
• 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 value 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 value of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Stock Performance

TRDA stock opened at $7.11 on Thursday. The stock has a market cap of $276.86 million, a P/E ratio of -1.80 and a beta of -0.25. The firm has a 50 day simple moving average of $7.05 and a 200 day simple moving average of $9.09. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last announced 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 net margin of 3,537.73% and a negative return on equity of 57.61%. The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. Sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TRDA. Roth Capital reaffirmed a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Wall Street Zen upgraded Entrada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Finally, Guggenheim dropped their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Four 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

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.