Insider Selling: Entrada Therapeutics, Inc. (NASDAQ:TRDA) Major Shareholder Sells 6,422 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Ventures V. L.P. 5Am sold 6,422 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $6.81, for a total transaction of $43,733.82. Following the completion of the transaction, the insider owned 1,106,670 shares of the company's stock, valued at $7,536,422.70. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Entrada Therapeutics Price Performance

TRDA traded up $0.39 during midday trading on Tuesday, reaching $7.11. 205,752 shares of the company's stock were exchanged, compared to its average volume of 134,114. The business's 50-day moving average price is $8.01 and its 200 day moving average price is $10.88. The stock has a market capitalization of $269.82 million, a PE ratio of 8.30 and a beta of -0.11. Entrada Therapeutics, Inc. has a 1-year low of $6.53 and a 1-year high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.36. The firm had revenue of $8.75 million for the quarter, compared to analyst estimates of $10.98 million. Entrada Therapeutics had a return on equity of 5.84% and a net margin of 14.39%. As a group, analysts expect that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in Entrada Therapeutics in the 4th quarter valued at about $57,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Entrada Therapeutics by 152.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,750 shares of the company's stock valued at $618,000 after buying an additional 21,594 shares during the period. Deutsche Bank AG boosted its position in Entrada Therapeutics by 55.5% during the fourth quarter. Deutsche Bank AG now owns 21,740 shares of the company's stock worth $376,000 after acquiring an additional 7,757 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Entrada Therapeutics in the 4th quarter worth approximately $36,000. Finally, Ameriprise Financial Inc. raised its holdings in Entrada Therapeutics by 6.6% in the 4th quarter. Ameriprise Financial Inc. now owns 40,624 shares of the company's stock valued at $702,000 after acquiring an additional 2,517 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRDA. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. Wall Street Zen upgraded Entrada Therapeutics from a "sell" rating to a "hold" rating in a report on Friday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $25.67.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.

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