Merck & Co. Inc. Takes Position 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. purchased a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,739,768 shares of the company's stock, valued at approximately $15,728,000. Entrada Therapeutics makes up about 9.6% of Merck & Co. Inc.'s portfolio, making the stock its 4th biggest holding. Merck & Co. Inc. owned 4.58% of Entrada Therapeutics at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TRDA. JPMorgan Chase & Co. lifted its position in Entrada Therapeutics by 228.1% in the 4th quarter. JPMorgan Chase & Co. now owns 35,470 shares of the company's stock valued at $613,000 after acquiring an additional 24,658 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Entrada Therapeutics by 29.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,743 shares of the company's stock worth $255,000 after buying an additional 3,357 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Entrada Therapeutics by 53,455.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock worth $83,000 after buying an additional 4,811 shares in the last quarter. Invesco Ltd. bought a new position in shares of Entrada Therapeutics during the 4th quarter worth approximately $199,000. Finally, Legal & General Group Plc lifted its position in shares of Entrada Therapeutics by 22.1% during the 4th quarter. Legal & General Group Plc now owns 19,899 shares of the company's stock worth $344,000 after buying an additional 3,601 shares in the last quarter. Institutional investors own 86.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TRDA. 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 raised shares of Entrada Therapeutics to a "hold" rating in a research report on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Entrada Therapeutics currently has an average rating of "Buy" and an average target price of $25.67.

Entrada Therapeutics Price Performance

Entrada Therapeutics stock traded down $0.20 during mid-day trading on Friday, hitting $5.45. The company's stock had a trading volume of 34,472 shares, compared to its average volume of 151,337. The stock has a market cap of $207.17 million, a price-to-earnings ratio of -3.06 and a beta of -0.12. The business has a 50 day moving average price of $6.26 and a 200-day moving average price of $8.27. Entrada Therapeutics, Inc. has a 12 month low of $4.93 and a 12 month high of $21.79.

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

Insider Buying and Selling at Entrada Therapeutics

In other news, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total transaction of $52,012.50. Following the completion of the transaction, the insider directly owned 1,093,313 shares of the company's stock, valued at approximately $8,199,847.50. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kush Parmar sold 27,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total transaction of $202,500.00. Following the transaction, the director directly owned 1,093,313 shares of the company's stock, valued at approximately $8,199,847.50. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,000 shares of company stock valued at $1,782,000 over the last three months. 8.11% of the stock is currently owned by insiders.

Entrada Therapeutics 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.