Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 3.6% - Here's What Happened

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s stock price was down 3.6% during trading on Monday . The company traded as low as $6.87 and last traded at $6.97. Approximately 149,403 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 134,750 shares. The stock had previously closed at $7.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TRDA shares. Wall Street Zen raised shares of Entrada Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Entrada Therapeutics has a consensus rating of "Buy" and an average target price of $25.67.

Entrada Therapeutics Stock Up 2.7%

The stock's 50-day moving average is $7.84 and its 200-day moving average is $10.51. The firm has a market cap of $271.74 million, a P/E ratio of 8.84 and a beta of -0.11.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.36. Entrada Therapeutics had a net margin of 14.39% and a return on equity of 5.84%. The business had revenue of $8.75 million for the quarter, compared to analyst estimates of $10.98 million. As a group, analysts expect that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Entrada Therapeutics news, major shareholder Ventures V. L.P. 5Am sold 6,422 shares of Entrada Therapeutics stock in a transaction on Monday, June 30th. The shares were sold at an average price of $6.81, for a total transaction of $43,733.82. Following the sale, the insider owned 1,106,670 shares in the company, valued at $7,536,422.70. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kush Parmar sold 25,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $6.81, for a total transaction of $170,250.00. Following the transaction, the director owned 1,106,670 shares in the company, valued at approximately $7,536,422.70. This trade represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock worth $1,377,000 in the last quarter. Corporate insiders own 8.11% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in Entrada Therapeutics during the 4th quarter worth about $36,000. BNP Paribas Financial Markets acquired a new position in Entrada Therapeutics during the 4th quarter valued at about $57,000. Virtus ETF Advisers LLC acquired a new position in Entrada Therapeutics during the 4th quarter valued at about $68,000. AlphaQuest LLC acquired a new position in Entrada Therapeutics during the 4th quarter valued at about $70,000. Finally, Russell Investments Group Ltd. lifted its position in Entrada Therapeutics by 53,455.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock valued at $83,000 after purchasing an additional 4,811 shares during the period. Institutional investors and hedge funds own 86.39% of the company's stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.