Nantahala Capital Management LLC Invests $2.21 Million in Entrada Therapeutics, Inc. $TRDA

Nantahala Capital Management LLC purchased a new position in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 300,575 shares of the company’s stock, valued at approximately $2,212,232.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRDA. State of Wyoming bought a new position in Entrada Therapeutics in the 2nd quarter valued at $37,000. Russell Investments Group Ltd. grew its holdings in shares of Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at $68,000. Jain Global LLC acquired a new stake in shares of Entrada Therapeutics in the third quarter valued at $69,000. Finally, IHT Wealth Management LLC bought a new position in shares of Entrada Therapeutics in the second quarter valued at about $72,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Entrada Therapeutics Stock Down 3.7%

Shares of TRDA opened at $7.00 on Friday. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The firm has a market capitalization of $272.58 million, a PE ratio of -1.77 and a beta of -0.26. The stock’s fifty day simple moving average is $7.08 and its 200-day simple moving average is $9.32.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. Analysts anticipate that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRDA. HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Roth Capital restated a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Guggenheim dropped their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Insider Activity

In other news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the transaction, the insider owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kush Parmar sold 114,756 shares of Entrada Therapeutics stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the sale, the director owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 513,728 shares of company stock valued at $3,586,368. 9.49% of the stock is currently owned by insiders.

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.