Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 3,733 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 3,733 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $7.01, for a total transaction of $26,168.33. Following the transaction, the insider owned 4,275,693 shares of the company’s stock, valued at approximately $29,972,607.93. This represents a 0.09% 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 10% or more 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 Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.99, for a total transaction of $309,370.41.
• 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

Shares of TRDA opened at $7.05 on Tuesday. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45. The stock has a market capitalization of $274.53 million, a price-to-earnings ratio of -1.78 and a beta of -0.26. The stock has a fifty day moving average of $7.08 and a 200-day moving average of $9.28.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. As a group, equities analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Entrada Therapeutics

Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised 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 worth $4,245,000 after buying an additional 42,479 shares during the last quarter. Rhumbline Advisers grew its holdings in Entrada Therapeutics by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock worth $263,000 after acquiring an additional 2,982 shares during the period. American Century Companies Inc. raised its position in shares of Entrada Therapeutics by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock worth $505,000 after acquiring an additional 7,301 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Entrada Therapeutics by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock worth $190,000 after acquiring an additional 5,370 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Entrada Therapeutics by 34.2% in 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 during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRDA has been the subject of several recent research reports. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. Guggenheim cut their target price 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 shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Finally, Roth Capital restated a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Four 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 data from MarketBeat, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

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.