Kush Parmar Sells 114,756 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the sale, the director owned 2,848,310 shares in the company, valued at $19,738,788.30. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.85, for a total transaction of $11,768.30.

Entrada Therapeutics Trading Down 0.3%

TRDA stock opened at $7.24 on Wednesday. The firm has a market cap of $281.06 million, a PE ratio of -1.81 and a beta of -0.26. The stock has a 50-day moving average price of $6.85 and a 200-day moving average price of $9.79. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, May 7th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.11. The company had revenue of $0.88 million for the quarter, compared to analyst estimates of $2.92 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. On average, analysts forecast that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current year.

Key Stories Impacting Entrada Therapeutics

Here are the key news stories impacting Entrada Therapeutics this week:

• Positive Sentiment: Institutional investors increased their holdings during the second quarter, including Geode Capital Management, Invesco, Prudential Financial, American Century and RhumbLine Advisers. Institutional and hedge-fund ownership stands at approximately 86.39%, providing some support for the stock. Analysts’ consensus price target of $17.50 is also well above TRDA’s recent trading level, though the consensus rating is “Hold.”
• Neutral Sentiment: Entrada’s latest reported quarterly results beat expectations on earnings, with a loss of $0.95 per share versus the expected $1.06 loss. However, revenue was only $0.88 million compared with the $2.92 million consensus estimate, highlighting the company’s early-stage biotechnology profile and continuing operating losses.
• Negative Sentiment: Director Kush Parmar and major shareholder Ventures L.P. 5AM disclosed sales of 114,756 shares at an average price of $6.93, worth approximately $795,259. The filings appear to describe the same transaction through related insider reports, rather than two separate sales. The transaction reduced the holder’s reported ownership by 3.87%, leaving roughly 2.85 million shares. Entrada Therapeutics insider sale article
• Negative Sentiment: The same parties also reported sales of 1,718 shares at an average price of $6.85, valued at approximately $11,768. This reduced ownership by just 0.06%, making it relatively minor compared with the larger sale. Entrada Therapeutics insider selling alert

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after purchasing an additional 42,479 shares during the period. Rhumbline Advisers grew its position in Entrada Therapeutics by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after purchasing an additional 2,982 shares during the period. American Century Companies Inc. increased its stake in Entrada Therapeutics by 10.8% during the 2nd quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock valued at $505,000 after purchasing an additional 7,301 shares in the last quarter. Prudential Financial Inc. increased its stake in Entrada Therapeutics by 23.4% during the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock valued at $190,000 after purchasing an additional 5,370 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Entrada Therapeutics by 34.2% during the second quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock worth $150,000 after buying an additional 5,702 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TRDA shares. Roth Capital set a $10.00 price objective on shares of Entrada Therapeutics in a research note on Friday, May 8th. Guggenheim reduced their price target 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. HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Entrada Therapeutics has an average rating of “Hold” and an average target price of $17.50.

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.