Entrada Therapeutics (NASDAQ:TRDA) Director Kush Parmar Sells 200,000 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the completion of the transaction, the director owned 2,963,066 shares in the company, valued at approximately $26,074,980.80. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $8.82 on Wednesday. The company has a market capitalization of $337.10 million, a PE ratio of -3.54 and a beta of -0.08. Entrada Therapeutics, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $21.79. The firm has a 50 day moving average price of $6.38 and a 200 day moving average price of $6.66.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The firm had revenue of $1.61 million for the quarter, compared to analyst estimates of $8.62 million. As a group, equities research analysts forecast that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Entrada Therapeutics

Large investors have recently bought and sold shares of the stock. Merck & Co. Inc. acquired a new stake in Entrada Therapeutics in the 1st quarter valued at about $15,728,000. Wellington Management Group LLP raised its holdings in Entrada Therapeutics by 2.1% in the first quarter. Wellington Management Group LLP now owns 1,053,314 shares of the company’s stock valued at $9,522,000 after acquiring an additional 21,488 shares in the last quarter. Millennium Management LLC raised its holdings in Entrada Therapeutics by 391.2% in the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after acquiring an additional 666,287 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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. Finally, Royce & Associates LP grew its holdings in Entrada Therapeutics by 54.8% during the 3rd quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock worth $2,004,000 after acquiring an additional 122,256 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. Roth Capital set a $13.00 price target on shares of Entrada Therapeutics in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.