Entrada Therapeutics (NASDAQ:TRDA) Shares Down 3.6% - Time to Sell?

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) shares were 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 trading, an increase of 11% from the average daily volume of 134,750 shares. The stock had previously closed at $7.23.

Analysts Set New Price Targets

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

Entrada Therapeutics Price Performance

The company has a market capitalization of $248.59 million, a P/E ratio of 8.09 and a beta of -0.11. The firm has a fifty day moving average price of $7.73 and a 200-day moving average price of $10.39.

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

Insider Buying and Selling at Entrada Therapeutics

In related news, Director Kush Parmar sold 75,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $6.91, for a total transaction of $518,250.00. Following the sale, the director directly owned 1,113,092 shares in the company, valued at approximately $7,691,465.72. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $6.91, for a total value of $385,128.85. Following the sale, the insider owned 3,220,287 shares in the company, valued at approximately $22,252,183.17. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock valued at $1,377,000. 8.11% of the stock is owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Entrada Therapeutics in the fourth quarter worth $57,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Entrada Therapeutics by 152.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,750 shares of the company's stock worth $618,000 after buying an additional 21,594 shares in the last quarter. Deutsche Bank AG raised its position in shares of Entrada Therapeutics by 55.5% in the fourth quarter. Deutsche Bank AG now owns 21,740 shares of the company's stock worth $376,000 after buying an additional 7,757 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Entrada Therapeutics in the fourth quarter worth $36,000. Finally, Ameriprise Financial Inc. raised its position in shares of Entrada Therapeutics by 6.6% in the fourth quarter. Ameriprise Financial Inc. now owns 40,624 shares of the company's stock worth $702,000 after buying an additional 2,517 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

About Entrada Therapeutics

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.