Bioventures 2018 L.P. Mpm Sells 38,922 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 38,922 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $7.20, for a total transaction of $280,238.40. Following the completion of the sale, the insider directly owned 4,279,426 shares of the company’s stock, valued at $30,811,867.20. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Bioventures 2018 L.P. Mpm also recently made the following trade(s):

• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The shares were sold at an average price of $6.99, for a total transaction of $309,370.41.
• On Friday, August 28th, Bioventures 2018 L.P. Mpm sold 3,733 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.01, for a total transaction of $26,168.33.

Entrada Therapeutics Price Performance

Shares of TRDA opened at $7.07 on Wednesday. The firm’s 50 day moving average is $7.08 and its 200-day moving average is $9.25. Entrada Therapeutics, Inc. has a 12-month low of $5.02 and a 12-month high of $16.45. The stock has a market capitalization of $275.31 million, a P/E ratio of -1.79 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The business had revenue of $0.90 million for 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%. As a group, equities research analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. 5AM Venture Management LLC acquired a new stake in shares of Entrada Therapeutics during the second quarter valued at approximately $29,854,949. BlackRock Inc. acquired a new position in Entrada Therapeutics in the 2nd quarter worth approximately $19,013,000. Millennium Management LLC boosted its stake in Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after purchasing an additional 666,287 shares during the period. Nantahala Capital Management LLC purchased a new position in Entrada Therapeutics during the 2nd quarter worth approximately $2,212,232. Finally, Citadel Advisors LLC grew its position in Entrada Therapeutics by 234.5% during the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after purchasing an additional 235,384 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRDA. Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Guggenheim decreased their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Finally, Roth Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Entrada Therapeutics has a consensus rating of “Moderate Buy” and an average 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.