Entrada Therapeutics (NASDAQ:TRDA) Director Kush Parmar Sells 1,718 Shares

Key Points

• Director Kush Parmar sold 1,718 Entrada Therapeutics shares at an average price of $6.85, worth $11,768.30, reducing his position by 0.06%. He also sold 114,756 shares the previous day for approximately $795,259.
• Entrada Therapeutics shares rose 6.9% to $7.26, with trading volume above its average. The company reported a quarterly loss of $0.95 per share but beat analyst expectations, while revenue fell short of estimates.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $17.50. Institutional investors own 86.39% of the company’s shares.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) Director Kush Parmar sold 1,718 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $6.85, for a total value of $11,768.30. Following the transaction, the director directly owned 2,846,592 shares of the company's stock, valued at $19,499,155.20. The trade was a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 value of $795,259.08.

Entrada Therapeutics Stock Up 6.9%

Shares of TRDA traded up $0.47 during mid-day trading on Monday, hitting $7.26. 500,498 shares of the company's stock traded hands, compared to its average volume of 329,656. Entrada Therapeutics, Inc. has a 1 year low of $4.93 and a 1 year high of $16.45. The firm has a market capitalization of $281.84 million, a P/E ratio of -1.82 and a beta of -0.26. The business's 50-day moving average price is $6.83 and its 200-day moving average price is $9.84.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Baker BROS. Advisors LP boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Entrada Therapeutics by 735.0% during the third quarter. JPMorgan Chase & Co. now owns 133,878 shares of the company's stock valued at $776,000 after purchasing an additional 117,844 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Entrada Therapeutics by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,495 shares of the company's stock valued at $176,000 after purchasing an additional 1,560 shares during the last quarter. IHT Wealth Management LLC purchased a new position in shares of Entrada Therapeutics during the second quarter valued at approximately $72,000. Finally, Jain Global LLC bought a new stake in shares of Entrada Therapeutics in the 3rd quarter worth approximately $69,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TRDA. Guggenheim dropped their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, June 8th. HC Wainwright cut shares of Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, May 8th. Oppenheimer increased their price target on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Roth Capital set a $10.00 price objective on shares of Entrada Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings cut Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.50.

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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