Bioventures 2014 L.P. Mpm Sells 21,623 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2014 L.P. Mpm sold 21,623 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $7.34, for a total value of $158,712.82. Following the transaction, the insider directly owned 4,359,439 shares in the company, valued at approximately $31,998,282.26. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Bioventures 2014 L.P. Mpm also recently made the following trade(s):

• On Wednesday, August 26th, Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.06, for a total value of $102,857.14.
• On Tuesday, August 25th, Bioventures 2014 L.P. Mpm sold 26,522 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.54, for a total value of $199,975.88.

Entrada Therapeutics Trading Down 8.1%

Entrada Therapeutics stock traded down $0.62 during trading hours on Wednesday, reaching $7.00. 229,319 shares of the company were exchanged, compared to its average volume of 334,500. The firm has a market cap of $272.58 million, a price-to-earnings ratio of -1.77 and a beta of -0.26. The stock has a 50-day moving average of $7.08 and a 200 day moving average of $9.36. Entrada Therapeutics, Inc. has a 12 month low of $5.02 and a 12 month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.32 million. As a group, research analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in Entrada Therapeutics by 7.1% during the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after buying an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Entrada Therapeutics by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after acquiring an additional 1,970 shares during the period. Great Lakes Advisors LLC raised its holdings in Entrada Therapeutics by 5.5% in the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock valued at $445,000 after acquiring an additional 2,239 shares in the last quarter. Quadrature Capital Ltd raised 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 valued at $209,000 after acquiring an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of 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 acquiring an additional 2,631 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRDA has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Roth Capital restated a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Finally, Guggenheim dropped their price objective 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. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Entrada Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

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.