Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 4.8% – Here’s Why

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price dropped 4.8% during mid-day trading on Friday . The stock traded as low as $9.99 and last traded at $10.02. Approximately 101,589 shares changed hands during trading, a decline of 39% from the average daily volume of 165,623 shares. The stock had previously closed at $10.52.

Wall Street Analysts Forecast Growth

TRDA has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Monday, December 29th. Roth Capital set a $13.00 price objective on Entrada Therapeutics in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Entrada Therapeutics presently has an average rating of “Hold” and an average target price of $16.50.

Entrada Therapeutics Price Performance

The firm has a market capitalization of $382.96 million, a price-to-earnings ratio of -4.02 and a beta of -0.12. The business’s 50 day moving average price is $9.72 and its 200-day moving average price is $7.32.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data 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 net margin of 168.16% and a negative return on equity of 26.42%. The firm had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. As a group, analysts expect that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ventures V. L.P. 5Am sold 200,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the sale, the insider owned 2,963,066 shares of the company’s stock, valued at approximately $26,074,980.80. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bros. Advisors Lp Baker purchased 100,736 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $7.76 per share, for a total transaction of $781,711.36. Following the purchase, the insider directly owned 4,664,924 shares in the company, valued at approximately $36,199,810.24. This represents a 2.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 178,044 shares of company stock valued at $1,352,568 and have sold 408,910 shares valued at $3,608,922. 8.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entrada Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Entrada Therapeutics by 72.7% in the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after purchasing an additional 3,707 shares during the last quarter. State of Wyoming increased its stake in shares of Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after acquiring an additional 4,295 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Entrada Therapeutics during the 3rd quarter worth about $67,000. Occudo Quantitative Strategies LP purchased a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $68,000. Finally, Inscription Capital LLC purchased a new stake in Entrada Therapeutics in the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.