Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $795,259.08 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Ventures L.P. 5Am sold 114,756 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the insider owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. The trade was a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Entrada Therapeutics Stock Performance

NASDAQ TRDA opened at $7.06 on Thursday. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $16.45. The stock has a market cap of $274.07 million, a PE ratio of -1.77 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 $9.77.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.03. The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.23 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. Research analysts forecast that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Entrada Therapeutics

Hedge funds have recently modified their holdings of the stock. State of Wyoming boosted its stake in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after buying an additional 4,295 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after acquiring an additional 3,707 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Entrada Therapeutics during the second quarter valued at $68,000. Jain Global LLC bought a new position in shares of Entrada Therapeutics during the third quarter valued at $69,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at $72,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRDA has been the subject of a number of recent research reports. Roth Capital set a $10.00 target price on Entrada Therapeutics in a research note on Friday, May 8th. Guggenheim lowered their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. 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. Finally, HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.50.

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.