Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $309,370.41 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $6.99, for a total value of $309,370.41. Following the completion of the transaction, the insider directly owned 4,231,434 shares in the company, valued at $29,577,723.66. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 28th, Bioventures 2018 L.P. Mpm sold 3,733 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.01, for a total transaction 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 transaction of $280,238.40.

Entrada Therapeutics Trading Up 3.3%

Shares of NASDAQ TRDA opened at $7.30 on Thursday. Entrada Therapeutics, Inc. has a 12 month low of $5.02 and a 12 month high of $16.45. The firm has a fifty day simple moving average of $7.08 and a two-hundred day simple moving average of $9.23. The firm has a market capitalization of $284.24 million, a PE ratio of -1.84 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results 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 net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. On average, sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRDA. Alliancebernstein L.P. raised its position in Entrada Therapeutics by 7.1% in the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after acquiring an additional 1,620 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Entrada Therapeutics by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after acquiring an additional 1,970 shares during the period. Great Lakes Advisors LLC grew its position in shares of Entrada Therapeutics by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock valued at $445,000 after acquiring an additional 2,239 shares during the period. Quadrature Capital Ltd increased its stake in shares of Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after purchasing an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Entrada Therapeutics by 3.6% in the 2nd quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock worth $505,000 after purchasing an additional 2,631 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRDA has been the topic of a number of research analyst reports. Weiss Ratings raised Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. HC Wainwright cut shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Guggenheim decreased their price objective on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Finally, Roth Capital restated a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four investment 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 MarketBeat.com, Entrada Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target 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.