Entrada Therapeutics (NASDAQ:TRDA) COO Nathan Dowden Sells 15,000 Shares

Key Points

• COO Nathan Dowden sold 15,000 shares on May 4 under a pre-arranged Rule 10b5-1 plan at an average price of $15.33 for proceeds of $229,950, leaving him with 198,588 shares (a 7.02% reduction) valued at about $3.04 million.
• Shares jumped 8.9% to $15.79 on Monday on unusually high volume (426,082 shares), well above the stock’s average trading activity.
• Entrada recently reported Q results with EPS of ($0.94) beating estimates but revenue of $1.3M missing expectations; analysts are mixed but the consensus is a "Moderate Buy" with a $19 target and some firms raising targets (Oppenheimer to $23).

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) COO Nathan Dowden sold 15,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $15.33, for a total transaction of $229,950.00. Following the completion of the sale, the chief operating officer directly owned 198,588 shares in the company, valued at $3,044,354.04. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Entrada Therapeutics Trading Up 8.9%

TRDA traded up $1.29 during trading on Monday, hitting $15.79. The company had a trading volume of 426,082 shares, compared to its average volume of 173,892. The business has a 50-day moving average of $12.72 and a 200-day moving average of $10.75. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $16.00.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.38. The firm had revenue of $1.30 million for the quarter, compared to analysts' expectations of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. As a group, research analysts expect that Entrada Therapeutics, Inc. will post -4.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TRDA shares. Oppenheimer increased their target price on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Wall Street Zen cut shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Weiss Ratings reissued a "sell (d)" rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Cantor Fitzgerald started coverage on shares of Entrada Therapeutics in a report on Wednesday, April 1st. They set an "overweight" rating on the stock. Finally, Guggenheim raised shares of Entrada Therapeutics to a "strong-buy" rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Institutional Trading of Entrada Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TRDA. Baker BROS. Advisors LP grew its position in shares of Entrada Therapeutics by 4.3% during the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company's stock worth $52,148,000 after acquiring an additional 206,911 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Entrada Therapeutics by 9.5% during the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company's stock worth $10,740,000 after acquiring an additional 90,339 shares during the last quarter. Millennium Management LLC grew its position in shares of Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company's stock worth $4,852,000 after acquiring an additional 666,287 shares during the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 42,479 shares during the last quarter. Finally, State Street Corp grew its position in shares of Entrada Therapeutics by 2.0% during the fourth quarter. State Street Corp now owns 508,789 shares of the company's stock worth $5,230,000 after acquiring an additional 10,174 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

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.

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