Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 38,922 Shares

Key Points

• Bioventures 2018 L.P. Mpm sold 38,922 Entrada Therapeutics shares at an average price of $7.20, generating $280,238.40. The sale reduced its stake by 0.90% to 4.28 million shares; it also reported two additional recent sales totaling 47,992 shares.
• TRDA traded near $7.05, with a market capitalization of approximately $274.5 million, well below its 1-year high of $16.45. The company reported a quarterly loss of $1.01 per share and revenue of $0.90 million, missing analyst estimates on both measures.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $17.75, although some firms recently downgraded or lowered their targets. Institutional investors and hedge funds own approximately 86.39% of the stock.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $7.20, for a total value of $280,238.40. Following the transaction, the insider owned 4,279,426 shares of the company's stock, valued at $30,811,867.20. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 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.

Entrada Therapeutics Stock Performance

TRDA stock traded up $0.05 during trading on Monday, hitting $7.05. The stock had a trading volume of 450,412 shares, compared to its average volume of 325,154. The stock has a market cap of $274.51 million, a price-to-earnings ratio of -1.78 and a beta of -0.26. The company's 50 day moving average price is $7.08 and its two-hundred day moving average price is $9.31. Entrada Therapeutics, Inc. has a 1-year low of $5.02 and a 1-year high of $16.45.

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 (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The firm had revenue of $0.90 million for 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%. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Entrada Therapeutics

A number of large investors have recently modified their holdings of TRDA. State of Wyoming acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at approximately $37,000. Russell Investments Group Ltd. lifted its holdings in shares of Entrada Therapeutics by 72.7% in the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company's stock valued at $51,000 after buying an additional 3,707 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at about $68,000. Jain Global LLC bought a new stake in Entrada Therapeutics during the third quarter worth approximately $69,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the 2nd quarter worth $72,000. Institutional investors and hedge funds 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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