Bioventures 2018 L.P. Mpm Sells 192,500 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Key Points

• Major shareholder Bioventures 2018 L.P. Mpm sold 192,500 Entrada Therapeutics shares at an average price of $7.41, generating $1.43 million. The sale reduced its ownership by 4.69%, leaving it with approximately 3.91 million shares.
• Entrada Therapeutics shares fell to $7.11, well below the 200-day moving average of $9.09, while the company reported a quarterly EPS loss of $1.01 and revenue of $0.90 million—both weaker than analyst expectations.
• Despite the selling and weak results, analysts maintain a “Moderate Buy” consensus with an average price target of $17.75; institutional investors own 86.39% of the stock.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $7.41, for a total value of $1,426,425.00. Following the completion of the transaction, the insider owned 3,913,952 shares in the company, valued at approximately $29,002,384.32. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Bioventures 2018 L.P. Mpm also recently made the following trade(s):

• On Wednesday, September 9th, Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.13, for a total value of $205,607.81.
• On Friday, September 4th, Bioventures 2018 L.P. Mpm sold 38,500 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.11, for a total value of $273,735.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.19, for a total transaction of $180,691.89.
• On Tuesday, September 1st, Bioventures 2018 L.P. Mpm sold 29,088 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.06, for a total value of $205,361.28.
• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.99, for a total value of $309,370.41.
• On Friday, August 28th, Bioventures 2018 L.P. Mpm sold 3,733 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.01, for a total value of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA traded down $0.41 during mid-day trading on Wednesday, reaching $7.11. 381,776 shares of the company's stock were exchanged, compared to its average volume of 247,577. The firm has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $9.09. The firm has a market capitalization of $276.86 million, a price-to-earnings ratio of -1.80 and a beta of -0.25. Entrada Therapeutics, Inc. has a 52 week low of $5.02 and a 52 week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings data 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). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The company had revenue of $0.90 million for the quarter, compared to analysts' expectations of $2.32 million. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new position in Entrada Therapeutics in the second quarter valued at $37,000. Russell Investments Group Ltd. lifted its stake in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company's stock worth $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Entrada Therapeutics during the second quarter worth about $68,000. Jain Global LLC purchased a new position in shares of Entrada Therapeutics in the 3rd quarter worth about $69,000. Finally, IHT Wealth Management LLC purchased a new position in shares of Entrada Therapeutics in the 2nd quarter worth about $72,000. 86.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Entrada Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings upgraded shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 31st. Guggenheim lowered their target price 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. Finally, Roth Capital restated a "buy" rating and set a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.75.

About Entrada Therapeutics

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.

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.