Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 32,263 Shares of Stock

Key Points

• Major shareholder Bioventures 2018 L.P. Mpm sold 32,263 Entrada Therapeutics shares at an average price of $7.17, generating $231,325.71. The sale reduced its stake by 0.77%, leaving it with 4.14 million shares valued at approximately $29.7 million.
• Entrada Therapeutics shares fell $0.13 to $7.17, well below their 52-week high of $16.45. The company recently reported a quarterly loss of $1.01 per share and revenue of $0.90 million, both worse than analyst expectations.
• Analyst sentiment remains a consensus “Moderate Buy”, with a $17.75 average price target, although ratings include a recent downgrade to neutral. Institutional investors own 86.39% of the company, with several funds adding positions during the second quarter.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71. Following the completion of the sale, the insider owned 4,144,952 shares of the company's stock, valued at $29,719,305.84. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 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 transaction of $205,361.28.
• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The stock was 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 shares were 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 stock was sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock traded down $0.13 during trading hours on Thursday, reaching $7.17. 395,559 shares of the company's stock traded hands, compared to its average volume of 255,201. Entrada Therapeutics, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $16.45. The firm's 50 day moving average is $7.08 and its 200-day moving average is $9.20. The firm has a market capitalization 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 issued its earnings results 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 the consensus estimate of $2.32 million. Analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analyst Weigh In

TRDA has been the subject of a number of research analyst reports. HC Wainwright cut Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, May 8th. Roth Capital reiterated a "buy" rating and set a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Guggenheim reduced their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating for the company in a report on Monday, June 8th. Finally, Weiss Ratings raised Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Entrada Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Odyssean LLC bought a new stake in shares of Entrada Therapeutics during the 2nd quarter valued at approximately $230,000. Nantahala Capital Management LLC bought a new stake in Entrada Therapeutics during the 2nd quarter worth $2,212,232. Public Employees Retirement System of Ohio bought a new position in Entrada Therapeutics in the second quarter valued at about $276,000. Bank of America Corp DE acquired a new stake in shares of Entrada Therapeutics during the second quarter valued at about $426,000. Finally, 5AM Venture Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $29,854,949. Institutional investors own 86.39% of the company's stock.

Entrada Therapeutics Company 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.

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