Bioventures 2018 L.P. Mpm Sells 44,259 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Key Points

• Major shareholder Bioventures 2018 L.P. Mpm sold 44,259 Entrada Therapeutics shares at an average price of $6.99, generating $309,370.41. The sale reduced its stake by 1.04%, leaving it with 4.23 million shares valued at approximately $29.6 million.
• Entrada Therapeutics shares traded at $7.05, near the lower end of their 52-week range of $5.02 to $16.45. The company recently reported a quarterly loss of $1.01 per share and revenue of $0.90 million, both weaker than analyst expectations.
• Analyst sentiment remains mixed but averages a “Moderate Buy” rating, with a consensus price target of $17.75 versus the stock’s current price. Institutional investors and hedge funds own 86.39% of the company.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $6.99, for a total transaction of $309,370.41. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 transaction of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Price Performance

Entrada Therapeutics stock traded up $0.05 during mid-day trading on Monday, reaching $7.05. The company had a trading volume of 450,412 shares, compared to its average volume of 325,154. 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 $274.51 million, a P/E ratio of -1.78 and a beta of -0.26. The stock's 50-day simple moving average is $7.08 and its 200-day simple moving average is $9.31.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). The firm 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, equities analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Entrada Therapeutics

Large investors have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Entrada Therapeutics in the 2nd quarter valued at about $37,000. Russell Investments Group Ltd. boosted its stake in shares of Entrada Therapeutics by 72.7% during the 3rd 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 purchased a new stake in shares of Entrada Therapeutics during the second quarter worth about $68,000. Jain Global LLC purchased a new stake in shares of Entrada Therapeutics during the third quarter worth about $69,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $72,000. Institutional investors and hedge funds own 86.39% of the company's stock.

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.

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