Entrada Therapeutics, Inc. (NASDAQ:TRDA) Major Shareholder Ventures V. L.P. 5Am Sells 6,935 Shares

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 shares were sold at an average price of $7.50, for a total transaction of $52,012.50. Following the completion of the sale, the insider directly owned 1,093,313 shares of the company's stock, valued at approximately $8,199,847.50. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Entrada Therapeutics Stock Up 3.8%

TRDA stock traded up $0.25 during mid-day trading on Monday, hitting $6.80. 94,423 shares of the company were exchanged, compared to its average volume of 134,703. The business has a fifty day simple moving average of $7.68 and a 200-day simple moving average of $10.21. The firm has a market capitalization of $258.08 million, a P/E ratio of 8.40 and a beta of -0.11. Entrada Therapeutics, Inc. has a 12-month low of $6.48 and a 12-month high of $21.79.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TRDA. KLP Kapitalforvaltning AS purchased a new stake in shares of Entrada Therapeutics in the 4th quarter valued at $36,000. BNP Paribas Financial Markets acquired a new position in Entrada Therapeutics in the 4th quarter valued at about $57,000. Virtus ETF Advisers LLC acquired a new position in Entrada Therapeutics in the 4th quarter valued at about $68,000. AlphaQuest LLC purchased a new stake in Entrada Therapeutics during the fourth quarter worth about $70,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Entrada Therapeutics by 53,455.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock worth $83,000 after purchasing an additional 4,811 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target 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 research report on Friday, June 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $25.67.

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.