Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells $647,108.00 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 92,444 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $7.00, for a total value of $647,108.00. Following the transaction, the director owned 2,691,337 shares of the company’s stock, valued at approximately $18,839,359. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kush Parmar also recently made the following trade(s):

• On Friday, August 7th, Kush Parmar sold 52,317 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.85, for a total value of $358,371.45.
• On Thursday, August 6th, Kush Parmar sold 10,494 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total transaction of $73,458.00.
• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total transaction of $11,768.30.
• On Thursday, July 30th, Kush Parmar sold 114,756 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08.

Entrada Therapeutics Price Performance

Shares of TRDA stock traded up $0.08 during trading hours on Monday, reaching $6.95. The stock had a trading volume of 411,770 shares, compared to its average volume of 464,800. The firm has a market capitalization of $270.63 million, a PE ratio of -1.76 and a beta of -0.26. The firm has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $9.68. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (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 firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. On average, equities analysts anticipate that Entrada Therapeutics, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Roth Capital set a $10.00 target price on shares of Entrada Therapeutics in a research report on Friday, May 8th. Guggenheim decreased 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. Finally, HC Wainwright cut shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Three equities 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Institutional Trading of Entrada Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Great Lakes Advisors LLC acquired a new stake in Entrada Therapeutics during the second quarter valued at approximately $283,000. BlackRock Inc. acquired a new position in Entrada Therapeutics in the second quarter worth approximately $19,013,000. Deutsche Bank AG bought a new position in shares of Entrada Therapeutics in the second quarter valued at $195,000. Bank of New York Mellon Corp bought a new position in shares of Entrada Therapeutics in the second quarter valued at $582,000. Finally, State of Wyoming acquired a new stake in shares of Entrada Therapeutics during the 2nd quarter valued at $37,000. 86.39% of the stock is currently 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.