Merck & Co. Inc. Acquires New Stake in Entrada Therapeutics, Inc. $TRDA

Key Points

• Merck & Co. Inc. has acquired a new stake in Entrada Therapeutics, purchasing 1,739,768 shares valued at approximately $15.7 million, making Entrada Therapeutics its 4th largest holding.
• Recent transactions indicate that several institutional investors, including the Public Employees Retirement System of Ohio and MetLife Investment Management, have increased their stakes in Entrada Therapeutics, with institutional ownership at 86.39%.
• Entrada Therapeutics reported disappointing quarterly earnings with an EPS of ($1.04), missing analysts’ expectations and generating revenue significantly below consensus estimates.

Merck & Co. Inc. bought a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,739,768 shares of the company's stock, valued at approximately $15,728,000. Entrada Therapeutics comprises approximately 9.6% of Merck & Co. Inc.'s portfolio, making the stock its 4th largest holding. Merck & Co. Inc. owned 4.58% of Entrada Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of Entrada Therapeutics in the fourth quarter valued at approximately $57,000. Virtus ETF Advisers LLC bought a new position in Entrada Therapeutics in the 4th quarter worth approximately $68,000. Russell Investments Group Ltd. raised its position in Entrada Therapeutics by 53,455.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock worth $83,000 after purchasing an additional 4,811 shares during the last quarter. State of Wyoming bought a new position in Entrada Therapeutics in the 4th quarter worth approximately $104,000. Finally, AlphaQuest LLC raised its position in Entrada Therapeutics by 188.2% in the 1st quarter. AlphaQuest LLC now owns 11,662 shares of the company's stock worth $105,000 after purchasing an additional 7,616 shares during the last quarter. Institutional investors own 86.39% of the company's stock.

Insider Buying and Selling at Entrada Therapeutics

In other news, Director Kush Parmar sold 75,000 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 $518,250.00. Following the completion of the transaction, the director owned 1,113,092 shares of the company's stock, valued at $7,691,465.72. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $385,128.85. Following the completion of the transaction, the insider directly owned 3,220,287 shares of the company's stock, valued at $22,252,183.17. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,000 shares of company stock valued at $1,782,000 in the last three months. 7.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TRDA has been the subject of several research analyst reports. Wall Street Zen cut shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Entrada Therapeutics to a "hold" rating in a research report on Friday, August 8th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Entrada Therapeutics currently has a consensus rating of "Buy" and an average price target of $25.67.

Entrada Therapeutics Stock Performance

TRDA traded down $0.02 during trading on Tuesday, reaching $5.61. 135,031 shares of the company's stock were exchanged, compared to its average volume of 279,031. The company's fifty day moving average price is $6.31 and its 200-day moving average price is $8.34. Entrada Therapeutics, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $21.79. The firm has a market capitalization of $213.39 million, a PE ratio of -3.15 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.18). Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. The firm had revenue of $1.98 million during the quarter, compared to analyst estimates of $8.17 million. Research analysts forecast that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

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.