Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 38,500 Shares

Key Points

• Major shareholder Bioventures 2018 L.P. Mpm sold 38,500 TRDA shares at an average price of $7.11, generating $273,735. Following the transaction, it retained 4.11 million shares valued at approximately $29.2 million.
• The sale was part of a broader series of disposals in late August and early September, totaling hundreds of thousands of shares. Entrada Therapeutics stock traded at $7.11, well below its 12-month high of $16.45.
• Entrada missed quarterly expectations, reporting a loss of $1.01 per share and revenue of $0.90 million versus the $2.32 million consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $17.75.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 38,500 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $7.11, for a total transaction of $273,735.00. Following the completion of the transaction, the insider owned 4,106,452 shares of the company's stock, valued at $29,196,873.72. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases 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 transaction of $205,607.81.
• On Tuesday, September 8th, Bioventures 2018 L.P. Mpm sold 192,500 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.41, for a total transaction of $1,426,425.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.17, for a total value of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.19, for a total value 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 shares were sold at an average price of $6.99, for a total transaction 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 shares were sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA traded down $0.41 during midday trading on Wednesday, hitting $7.11. 381,776 shares of the company traded hands, compared to its average volume of 247,577. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The firm has a market cap of $276.86 million, a P/E ratio of -1.80 and a beta of -0.25. The stock has a 50-day moving average price of $7.05 and a 200 day moving average price of $9.09.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its 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 business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. As a group, equities analysts expect that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Analysts Set New Price Targets

TRDA has been the subject of a number of research analyst reports. Wall Street Zen raised Entrada Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Guggenheim reduced their target price on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Roth Capital reiterated a "buy" rating and set a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRDA. 5AM Venture Management LLC purchased a new position in shares of Entrada Therapeutics during the second quarter worth about $29,854,949. BlackRock Inc. acquired a new position in shares of Entrada Therapeutics during the second quarter worth $19,013,000. Millennium Management LLC increased its stake in Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company's stock worth $4,852,000 after buying an additional 666,287 shares during the period. Nantahala Capital Management LLC acquired a new stake in shares of Entrada Therapeutics during the second quarter valued at about $2,212,232. Finally, Citadel Advisors LLC raised its stake in shares of Entrada Therapeutics by 234.5% during the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company's stock valued at $1,947,000 after purchasing an additional 235,384 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.