Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells 114,756 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 114,756 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kush Parmar also recently made the following trade(s):

• On Friday, July 31st, Kush Parmar sold 1,718 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.85, for a total value of $11,768.30.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA traded up $0.47 during trading on Monday, hitting $7.26. 500,498 shares of the stock were exchanged, compared to its average volume of 329,656. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $16.45. The company has a market capitalization of $281.84 million, a price-to-earnings ratio of -1.82 and a beta of -0.26. The company’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $9.84.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.11. The business had revenue of $0.88 million during the quarter, compared to analyst estimates of $2.92 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. On average, research analysts forecast that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current fiscal year.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently bought and sold shares of the stock. Baker BROS. Advisors LP grew its position in Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after acquiring an additional 206,911 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Entrada Therapeutics by 735.0% during the third quarter. JPMorgan Chase & Co. now owns 133,878 shares of the company’s stock valued at $776,000 after acquiring an additional 117,844 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Entrada Therapeutics by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,495 shares of the company’s stock valued at $176,000 after acquiring an additional 1,560 shares during the period. Jain Global LLC bought a new position in shares of Entrada Therapeutics during the third quarter valued at $69,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Roth Capital set a $10.00 price objective on shares of Entrada Therapeutics in a research note on Friday, May 8th. Oppenheimer lifted their target price on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Guggenheim decreased their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. HC Wainwright cut shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Entrada Therapeutics currently has an average rating of “Hold” and a consensus price target of $17.50.

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.