Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 44,259 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $6.99, for a total transaction of $309,370.41. Following the transaction, the insider directly owned 4,231,434 shares of the company’s stock, valued at approximately $29,577,723.66. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $7.05 on Tuesday. Entrada Therapeutics, Inc. has a 1 year low of $5.02 and a 1 year high of $16.45. The firm has a 50 day moving average price of $7.08 and a 200 day moving average price of $9.28. The company has a market cap of $274.53 million, a price-to-earnings ratio of -1.78 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last posted 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). The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. Sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Entrada Therapeutics

Large investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Entrada Therapeutics in the 2nd quarter worth $37,000. Russell Investments Group Ltd. grew 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 in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics during the second quarter valued at about $68,000. Jain Global LLC purchased a new stake in shares of Entrada Therapeutics during the third quarter worth about $69,000. Finally, IHT Wealth Management LLC purchased a new stake in shares of Entrada Therapeutics during the second quarter worth about $72,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRDA has been the topic of several research reports. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Roth Capital restated a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Finally, Guggenheim cut their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.