Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Sells $205,361.28 in Stock

Key Points

• Major shareholder Bioventures 2018 L.P. MPM sold 29,088 Entrada Therapeutics shares at an average price of $7.06, totaling $205,361.28. The sale reduced its ownership by 0.69%, leaving it with 4.20 million shares.
• Bioventures also reported several additional sales between August 27 and September 3, bringing the disclosed recent selling to more than 173,000 shares.
• TRDA traded near $7.17, well below its 52-week high of $16.45. The company missed quarterly earnings and revenue expectations, while analysts maintained 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 29,088 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $7.06, for a total value of $205,361.28. Following the transaction, the insider directly owned 4,202,346 shares of the company's stock, valued at approximately $29,668,562.76. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major 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 Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71.
• 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 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 stock was sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Stock Performance

TRDA stock traded down $0.13 during midday trading on Thursday, reaching $7.17. 395,559 shares of the company were exchanged, compared to its average volume of 255,201. The company has a market cap of $279.20 million, a price-to-earnings ratio of -1.81 and a beta of -0.25. Entrada Therapeutics, Inc. has a 1-year low of $5.02 and a 1-year high of $16.45. The stock's 50-day simple moving average is $7.08 and its 200 day simple moving average is $9.20.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The company had revenue of $0.90 million during the quarter, compared to analysts' expectations of $2.32 million. On average, research analysts anticipate that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Trading of Entrada Therapeutics

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

Analysts Set New Price Targets

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

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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