Wellington Management Group LLP Lowers Stock Position in Entrada Therapeutics, Inc. $TRDA

Wellington Management Group LLP trimmed its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 954,419 shares of the company’s stock after selling 80,363 shares during the quarter. Wellington Management Group LLP owned about 2.45% of Entrada Therapeutics worth $7,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of Entrada Therapeutics by 7.1% in the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after purchasing an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Entrada Therapeutics by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after buying an additional 1,970 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Entrada Therapeutics by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock valued at $445,000 after buying an additional 2,239 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Entrada Therapeutics by 3.6% in the 2nd quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock worth $505,000 after buying an additional 2,631 shares during the period. Institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Trading Up 5.5%

Shares of TRDA stock opened at $7.52 on Wednesday. The stock has a market capitalization of $292.83 million, a price-to-earnings ratio of -1.90 and a beta of -0.25. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The stock’s 50-day moving average price is $7.06 and its 200-day moving average price is $9.12.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.32 million. As a group, research analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TRDA. Roth Capital reissued a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Wall Street Zen upgraded Entrada Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Guggenheim decreased their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Weiss Ratings raised Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Entrada Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Insider Transactions at Entrada Therapeutics

In related news, major shareholder Bioventures 2014 L.P. Mpm sold 26,522 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $7.54, for a total value of $199,975.88. Following the sale, the insider owned 4,332,917 shares in the company, valued at approximately $32,670,194.18. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the sale, the insider directly owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. The trade was a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 687,124 shares of company stock valued at $4,819,524 over the last quarter. 9.49% of the stock is owned by insiders.

Entrada Therapeutics Company Profile

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.