Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 4.8% – Should You Sell?

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) dropped 4.8% during mid-day trading on Friday . The company traded as low as $9.99 and last traded at $10.02. Approximately 101,589 shares changed hands during trading, a decline of 39% from the average daily volume of 165,623 shares. The stock had previously closed at $10.52.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Roth Capital set a $13.00 price target on Entrada Therapeutics in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.50.

Entrada Therapeutics Stock Performance

The company’s 50 day simple moving average is $9.72 and its 200 day simple moving average is $7.32. The stock has a market cap of $382.96 million, a PE ratio of -4.02 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). The business had revenue of $1.61 million during the quarter, compared to analysts’ expectations of $8.62 million. Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%. Equities research analysts expect that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Bros. Advisors Lp Baker acquired 100,736 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average price of $7.76 per share, for a total transaction of $781,711.36. Following the completion of the acquisition, the insider owned 4,664,924 shares of the company’s stock, valued at approximately $36,199,810.24. This represents a 2.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kush Parmar sold 200,000 shares of Entrada Therapeutics stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the completion of the sale, the director directly owned 2,963,066 shares in the company, valued at approximately $26,074,980.80. This represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 178,044 shares of company stock worth $1,352,568 and have sold 408,910 shares worth $3,608,922. 8.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Several large investors have recently modified their holdings of TRDA. Millennium Management LLC lifted its stake in Entrada Therapeutics by 391.2% in the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after purchasing an additional 666,287 shares during the last quarter. Geode Capital Management LLC increased its position in Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after buying an additional 42,479 shares during the last quarter. Royce & Associates LP raised its stake in shares of Entrada Therapeutics by 54.8% in the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock valued at $2,004,000 after buying an additional 122,256 shares during the period. Citadel Advisors LLC lifted its position in shares of Entrada Therapeutics by 234.5% during the 3rd 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 last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Entrada Therapeutics by 43.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 315,810 shares of the company’s stock valued at $1,832,000 after buying an additional 95,074 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.