BlackRock Inc. Invests $19.01 Million in Entrada Therapeutics, Inc. $TRDA

Key Points

• BlackRock acquired 2.58 million shares of Entrada Therapeutics during the second quarter, worth approximately $19.0 million and representing a 6.65% stake. Institutional investors collectively own 86.39% of the company.
• Entrada’s shares opened at $7.17, near the lower end of their 52-week range of $5.02 to $16.45. The company missed quarterly expectations, reporting a loss of $1.01 per share versus the $0.97 consensus estimate and revenue of $0.90 million versus $2.32 million expected.
• Analyst sentiment remains mixed but leans positive, with an overall “Moderate Buy” rating and an average price target of $17.75. Meanwhile, insiders sold 687,124 shares worth approximately $4.82 million during the latest quarter.

BlackRock Inc. purchased a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,583,333 shares of the company's stock, valued at approximately $19,013,000. BlackRock Inc. owned 6.65% of Entrada Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG acquired a new position in Entrada Therapeutics during the 2nd quarter valued at about $195,000. Bank of New York Mellon Corp acquired a new stake in Entrada Therapeutics in the second quarter worth approximately $582,000. State of Wyoming acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at $37,000. GSA Capital Partners LLP bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at about $648,000. Finally, ADAR1 Capital Management LLC bought a new stake in Entrada Therapeutics during the first quarter worth approximately $385,000. Institutional investors own 86.39% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $6.99, for a total value of $309,370.41. Following the transaction, the insider owned 4,231,434 shares of the company's stock, valued at $29,577,723.66. This trade represents a 1.04% decrease in their ownership of the stock. 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 114,756 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the sale, the insider owned 2,848,310 shares of the company's stock, valued at $19,738,788.30. The trade was a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 687,124 shares of company stock worth $4,819,524. Insiders own 9.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. Roth Capital reiterated a "buy" rating and set a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Guggenheim dropped their price target on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, June 8th. Finally, HC Wainwright downgraded Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.75.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA opened at $7.17 on Friday. The business has a 50 day simple moving average of $7.08 and a 200 day simple moving average of $9.20. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45. The stock has a market cap of $279.20 million, a price-to-earnings ratio of -1.81 and a beta of -0.25.

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

Entrada Therapeutics 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.

Want to see what other hedge funds are holding TRDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source