Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $231,325.71 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 32,263 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $7.17, for a total value of $231,325.71. Following the completion of the sale, the insider owned 4,144,952 shares of the company’s stock, valued at $29,719,305.84. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 transaction of $205,361.28.
• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The shares were 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 stock was 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 transaction of $280,238.40.

Entrada Therapeutics Stock Performance

Shares of Entrada Therapeutics stock traded down $0.13 during trading hours on Thursday, reaching $7.17. The company’s stock had a trading volume of 395,559 shares, compared to its average volume of 255,201. The company has a market capitalization of $279.20 million, a P/E ratio of -1.81 and a beta of -0.25. The stock’s fifty day simple moving average is $7.08 and its two-hundred day simple moving average is $9.20. Entrada Therapeutics, Inc. has a one year low of $5.02 and a one year 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 for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. As a group, research analysts forecast that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new stake in Entrada Therapeutics in the 2nd quarter worth $37,000. Russell Investments Group Ltd. raised its stake in shares of Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after acquiring an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Entrada Therapeutics in the 2nd quarter worth approximately $68,000. IHT Wealth Management LLC bought a new stake in Entrada Therapeutics in the second quarter valued at $72,000. Finally, Jain Global LLC bought a new position in Entrada Therapeutics in the 3rd quarter worth $69,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRDA has been the topic of a number of research reports. HC Wainwright cut Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Guggenheim lowered their price target on 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 upgraded shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Finally, Roth Capital reissued a “buy” rating and set a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently 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.