300,575 Shares in Entrada Therapeutics, Inc. $TRDA Bought by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management bought 300,575 shares of Entrada Therapeutics in the second quarter, worth approximately $2.2 million and representing a 0.77% stake. Institutional investors and hedge funds collectively own 86.39% of the company.
• Entrada insiders sold 513,728 shares worth about $3.6 million over the past three months. Analyst sentiment remains mixed, though the stock carries a consensus “Moderate Buy” rating and an average price target of $17.75.
• TRDA opened at $7.00 after declining 3.7%, while its latest quarterly results missed expectations with a loss of $1.01 per share and revenue of $0.9 million versus the $2.32 million estimate.

Nantahala Capital Management LLC purchased a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 300,575 shares of the company's stock, valued at approximately $2,212,232. Nantahala Capital Management LLC owned 0.77% of Entrada Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRDA. Geode Capital Management LLC raised 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 valued at $4,245,000 after buying an additional 42,479 shares during the last quarter. Rhumbline Advisers increased its stake in Entrada Therapeutics by 8.3% during the second quarter. Rhumbline Advisers now owns 39,095 shares of the company's stock valued at $263,000 after acquiring an additional 2,982 shares during the period. American Century Companies Inc. increased its stake in Entrada Therapeutics by 10.8% during the second quarter. American Century Companies Inc. now owns 75,094 shares of the company's stock valued at $505,000 after acquiring an additional 7,301 shares during the period. Prudential Financial Inc. raised its holdings in Entrada Therapeutics by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company's stock valued at $190,000 after acquiring an additional 5,370 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Entrada Therapeutics by 34.2% in the 2nd quarter. Invesco Ltd. now owns 22,393 shares of the company's stock worth $150,000 after acquiring an additional 5,702 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Ventures V. L.P. 5Am sold 52,317 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $6.85, for a total transaction of $358,371.45. Following the completion of the transaction, the insider directly owned 2,783,781 shares in the company, valued at $19,068,899.85. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value of $102,857.14. Following the transaction, the insider directly owned 4,318,348 shares of the company's stock, valued at approximately $30,487,536.88. The trade was a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 513,728 shares of company stock worth $3,586,368 over the last three months. Company insiders own 9.49% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright lowered Entrada Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, May 8th. Roth Capital reaffirmed a "buy" rating and issued a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Weiss Ratings downgraded shares of Entrada Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 13th. Finally, Guggenheim lowered their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.75.

Entrada Therapeutics Trading Down 3.7%

NASDAQ TRDA opened at $7.00 on Friday. Entrada Therapeutics, Inc. has a 1-year low of $5.02 and a 1-year high of $16.45. The company has a market capitalization of $272.58 million, a price-to-earnings ratio of -1.77 and a beta of -0.26. The stock's 50 day moving average is $7.08 and its two-hundred day moving average is $9.32.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. On average, analysts predict that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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