Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 29,088 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 29,088 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $7.06, for a total transaction of $205,361.28. Following the completion of the sale, the insider directly owned 4,202,346 shares in the company, valued at approximately $29,668,562.76. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transactions with the SEC.

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

• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.17, for a total transaction of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.19, for a total transaction of $180,691.89.
• 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 value of $309,370.41.
• On Friday, August 28th, Bioventures 2018 L.P. Mpm sold 3,733 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.01, for a total value of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.20, for a total value of $280,238.40.

Entrada Therapeutics Trading Down 1.8%

Shares of TRDA opened at $7.17 on Friday. The stock has a market cap of $279.20 million, a PE ratio of -1.81 and a beta of -0.25. Entrada Therapeutics, Inc. has a 1 year low of $5.02 and a 1 year high of $16.45. The stock has a 50 day simple moving average of $7.08 and a 200-day simple moving average of $9.20.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly 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). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. On average, sell-side analysts forecast that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Trading of Entrada Therapeutics

Several large investors have recently made changes to their positions in the business. State of Wyoming acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at $37,000. Russell Investments Group Ltd. raised its holdings in shares of Entrada Therapeutics by 72.7% in the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics during the 2nd quarter worth about $68,000. IHT Wealth Management LLC acquired a new position in Entrada Therapeutics during the 2nd quarter worth about $72,000. Finally, Jain Global LLC acquired a new position in Entrada Therapeutics during the 3rd quarter worth about $69,000. Institutional investors own 86.39% of the company’s stock.

Analysts Set New Price Targets

TRDA has been the topic of several recent analyst reports. Roth Capital restated a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. HC Wainwright cut shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Guggenheim cut their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Entrada Therapeutics has an average rating of “Moderate Buy” and a consensus target price 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.