Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells 28,837 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total value of $205,607.81. Following the completion of the sale, the insider owned 3,885,115 shares of the company’s stock, valued at $27,700,869.95. The trade was a 0.74% 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. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, September 8th, Bioventures 2018 L.P. Mpm sold 192,500 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.41, for a total value of $1,426,425.00.
• On Friday, September 4th, Bioventures 2018 L.P. Mpm sold 38,500 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.11, for a total transaction of $273,735.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.19, for a total transaction 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 stock was 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 shares were sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Stock Down 5.5%

Shares of NASDAQ:TRDA traded down $0.41 during trading on Wednesday, hitting $7.11. The stock had a trading volume of 381,776 shares, compared to its average volume of 247,577. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The stock has a market capitalization of $276.86 million, a price-to-earnings ratio of -1.80 and a beta of -0.25. The stock has a 50-day simple moving average of $7.05 and a two-hundred day simple moving average of $9.09.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results 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 firm had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Hedge Funds Weigh In On Entrada Therapeutics

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 42,479 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Entrada Therapeutics by 8.3% in the second quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after purchasing an additional 2,982 shares during the last quarter. American Century Companies Inc. grew 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 buying 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 purchasing an additional 5,370 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Entrada Therapeutics by 34.2% during the second quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock valued at $150,000 after acquiring an additional 5,702 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. 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. Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Finally, Roth Capital reaffirmed a “buy” rating and set 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 issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Entrada Therapeutics has an average rating of “Moderate Buy” and a consensus price target 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.