Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells 52,317 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 52,317 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $6.85, for a total value of $358,371.45. Following the completion of the transaction, the director owned 2,783,781 shares in the company, valued at approximately $19,068,899.85. The trade was a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kush Parmar also recently made the following trade(s):

• On Monday, August 10th, Kush Parmar sold 92,444 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.00, for a total value of $647,108.00.
• On Thursday, August 6th, Kush Parmar sold 10,494 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total value of $73,458.00.
• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total transaction of $11,768.30.
• On Thursday, July 30th, Kush Parmar sold 114,756 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08.

Entrada Therapeutics Trading Up 1.2%

Shares of NASDAQ TRDA traded up $0.08 during mid-day trading on Monday, reaching $6.95. The company had a trading volume of 411,770 shares, compared to its average volume of 464,800. The firm has a 50 day simple moving average of $6.86 and a two-hundred day simple moving average of $9.68. Entrada Therapeutics, Inc. has a 52-week low of $4.93 and a 52-week high of $16.45. The stock has a market cap of $270.63 million, a P/E ratio of -1.76 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly 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 company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. On average, equities analysts expect that Entrada Therapeutics, Inc. will post -4.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRDA shares. Roth Capital set a $10.00 target price on Entrada Therapeutics in a research report on Friday, May 8th. Guggenheim reduced their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Finally, HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.50.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Entrada Therapeutics in the 2nd quarter valued at about $37,000. Russell Investments Group Ltd. lifted its position in Entrada Therapeutics by 72.7% during the 3rd 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 during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Entrada Therapeutics in the 2nd quarter valued at approximately $68,000. Jain Global LLC purchased a new position in shares of Entrada Therapeutics in the 3rd quarter valued at approximately $69,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $72,000. 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.