Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $180,691.89 in Stock

Key Points

• Major shareholder Bioventures 2018 L.P. Mpm sold 25,131 Entrada Therapeutics shares at an average $7.19, generating $180,691.89. The sale reduced its ownership by 0.60%, leaving it with 4.18 million shares worth approximately $30.0 million.
• The shareholder has also sold additional shares in a series of recent transactions, totaling more than 173,000 shares from August 27 through September 3.
• Entrada shares fell 1.8% to $7.17, while the company recently reported a quarterly loss of $1.01 per share and revenue of $0.90 million, both weaker than analyst expectations. Analysts nevertheless maintain a “Moderate Buy” consensus with a $17.75 price target.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Bioventures 2018 L.P. Mpm sold 25,131 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $7.19, for a total value of $180,691.89. Following the completion of the sale, the insider owned 4,177,215 shares in the company, valued at approximately $30,034,175.85. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 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 transaction of $280,238.40.

Entrada Therapeutics Stock Down 1.8%

Entrada Therapeutics stock traded down $0.13 during trading on Thursday, reaching $7.17. The stock had a trading volume of 395,559 shares, compared to its average volume of 255,201. Entrada Therapeutics, Inc. has a 52-week low of $5.02 and a 52-week high of $16.45. The stock has a market cap of $279.20 million, a PE ratio of -1.81 and a beta of -0.25. The business has a 50 day moving average price of $7.08 and a 200 day moving average price of $9.20.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its quarterly earnings data 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 net margin of 3,537.73% and a negative return on equity of 57.61%. On average, equities analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TRDA shares. Roth Capital reissued a "buy" rating and issued a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Weiss Ratings raised shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. Guggenheim lowered their price target on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Finally, HC Wainwright downgraded 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.75.

Hedge Funds Weigh In On Entrada Therapeutics

Large investors have recently made changes to their positions in the stock. State of Wyoming purchased a new position in Entrada Therapeutics in the second quarter valued at about $37,000. Russell Investments Group Ltd. raised its holdings 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 acquired a new stake in Entrada Therapeutics in the second quarter valued at $68,000. Jain Global LLC purchased a new position in shares of Entrada Therapeutics in the third quarter valued at $69,000. Finally, IHT Wealth Management LLC acquired a new stake in Entrada Therapeutics in the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors 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.

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.

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