Entrada Therapeutics (NASDAQ:TRDA) Director Sells 114,756 Shares

Key Points

• Director Kush Parmar sold 114,756 Entrada Therapeutics shares at an average price of $6.93, generating approximately $795,259. After the sale, he retained 2.85 million shares, a 3.87% reduction in his position.
• TRDA shares rose to $7.26, while the company reported a quarterly loss of $0.95 per share—better than estimates—but revenue of $0.88 million missed expectations of $2.92 million.
• Analysts have a consensus “Hold” rating and an average price target of $17.50; institutional investors own 86.39% of the company.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) Director Kush Parmar sold 114,756 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the director owned 2,848,310 shares in the company, valued at $19,738,788.30. This represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 Price Performance

NASDAQ:TRDA traded up $0.47 during trading hours on Monday, reaching $7.26. The company's stock had a trading volume of 500,498 shares, compared to its average volume of 329,656. The company has a market cap of $281.84 million, a price-to-earnings ratio of -1.82 and a beta of -0.26. Entrada Therapeutics, Inc. has a one year low of $4.93 and a one year high of $16.45. The business's 50-day moving average is $6.83 and its 200-day moving average is $9.84.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.92 million. On average, sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC bought a new stake in Entrada Therapeutics in the 1st quarter valued at $385,000. The Manufacturers Life Insurance Company grew its position in Entrada Therapeutics by 25.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 70,656 shares of the company's stock worth $892,000 after purchasing an additional 14,111 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Entrada Therapeutics by 4.9% during the 1st quarter. Quantinno Capital Management LP now owns 71,018 shares of the company's stock worth $896,000 after purchasing an additional 3,301 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Entrada Therapeutics by 18.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 324,471 shares of the company's stock worth $4,092,000 after purchasing an additional 51,093 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Entrada Therapeutics by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company's stock valued at $246,000 after buying an additional 1,970 shares during the last quarter. Institutional investors own 86.39% of the company's stock.

Analyst Upgrades and Downgrades

TRDA has been the topic of a number of recent analyst reports. Roth Capital set a $10.00 price objective on Entrada Therapeutics in a research note on Friday, May 8th. HC Wainwright downgraded Entrada Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, May 8th. Guggenheim lowered their price target on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Weiss Ratings lowered shares of Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, June 11th. Finally, Oppenheimer boosted their price objective 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. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Entrada Therapeutics presently has a consensus 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.

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