Kush Parmar Sells 92,444 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Key Points

• Director Kush Parmar sold 92,444 Entrada Therapeutics shares at an average price of $7, generating $647,108. After the transaction, he retained 2.69 million shares.
• Parmar has made several additional sales since July 30, totaling more than 179,000 shares, indicating continued insider selling activity.
• Entrada shares rose 1.2% to $6.95, but the company recently missed quarterly earnings and revenue estimates. Analysts’ average rating is “Hold,” with an average price target of $17.50.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) Director Kush Parmar sold 92,444 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $7.00, for a total transaction of $647,108.00. Following the completion of the sale, the director directly owned 2,691,337 shares of the company's stock, valued at $18,839,359. The trade was a 3.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kush Parmar also recently made the following trade(s):

• On Friday, August 7th, Kush Parmar sold 52,317 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total transaction of $358,371.45.
• On Thursday, August 6th, Kush Parmar sold 10,494 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total value of $73,458.00.
• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.85, for a total value of $11,768.30.
• On Thursday, July 30th, Kush Parmar sold 114,756 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.93, for a total value of $795,259.08.

Entrada Therapeutics Trading Up 1.2%

Shares of TRDA traded up $0.08 during midday trading on Monday, reaching $6.95. 411,770 shares of the company were exchanged, compared to its average volume of 464,800. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $16.45. The stock has a 50-day moving average price of $6.86 and a 200-day moving average price of $9.68. The company has a market cap of $270.63 million, a price-to-earnings ratio of -1.76 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). The company 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%. Equities research analysts anticipate that Entrada Therapeutics, Inc. will post -4.07 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRDA. Guggenheim lowered their target price on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, June 8th. HC Wainwright downgraded Entrada Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, May 8th. Roth Capital set a $10.00 price objective on Entrada Therapeutics in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRDA. BlackRock Inc. bought a new position in shares of Entrada Therapeutics in the 2nd quarter worth about $19,013,000. Millennium Management LLC raised its stake in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company's stock worth $4,852,000 after acquiring an additional 666,287 shares during the period. Citadel Advisors LLC lifted its holdings in Entrada Therapeutics by 234.5% in the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company's stock worth $1,947,000 after acquiring an additional 235,384 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company's stock worth $52,148,000 after acquiring an additional 206,911 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Entrada Therapeutics by 115.3% in the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company's stock valued at $1,670,000 after acquiring an additional 154,143 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

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.

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