Insider Selling: Entrada Therapeutics, Inc. (NASDAQ:TRDA) Major Shareholder Sells 6,935 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $52,012.50. Following the transaction, the insider owned 1,093,313 shares in the company, valued at $8,199,847.50. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major 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

Entrada Therapeutics stock traded down $0.21 during midday trading on Friday, reaching $6.55. The company had a trading volume of 219,912 shares, compared to its average volume of 135,518. Entrada Therapeutics, Inc. has a 12-month low of $6.48 and a 12-month high of $21.79. The company has a market capitalization of $248.59 million, a P/E ratio of 8.09 and a beta of -0.11. The firm's fifty day simple moving average is $7.68 and its 200-day simple moving average is $10.32.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Entrada Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Entrada Therapeutics in a report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $25.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Entrada Therapeutics by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,127 shares of the company's stock worth $3,408,000 after purchasing an additional 11,143 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Entrada Therapeutics in the fourth quarter worth about $70,000. American Century Companies Inc. boosted its position in Entrada Therapeutics by 17.7% during the fourth quarter. American Century Companies Inc. now owns 59,710 shares of the company's stock worth $1,032,000 after acquiring an additional 8,985 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Entrada Therapeutics during the fourth quarter worth about $36,000. Finally, LPL Financial LLC grew its stake in Entrada Therapeutics by 12.9% during the 4th quarter. LPL Financial LLC now owns 55,154 shares of the company's stock valued at $954,000 after acquiring an additional 6,310 shares in the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

About Entrada Therapeutics

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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