Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Bioventures 2018 L.P. Mpm Sells 38,500 Shares

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 38,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $7.11, for a total value of $273,735.00. Following the transaction, the insider owned 4,106,452 shares in the company, valued at approximately $29,196,873.72. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, September 9th, Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.13, for a total value of $205,607.81.
• On Tuesday, September 8th, Bioventures 2018 L.P. Mpm sold 192,500 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.41, for a total value of $1,426,425.00.
• On Thursday, September 3rd, Bioventures 2018 L.P. Mpm sold 32,263 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.17, for a total value of $231,325.71.
• On Wednesday, September 2nd, Bioventures 2018 L.P. Mpm sold 25,131 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.19, for a total value of $180,691.89.
• On Tuesday, September 1st, Bioventures 2018 L.P. Mpm sold 29,088 shares of Entrada Therapeutics stock. The stock was sold at an average price of $7.06, for a total transaction of $205,361.28.
• On Monday, August 31st, Bioventures 2018 L.P. Mpm sold 44,259 shares of Entrada Therapeutics stock. The stock was 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 shares were sold at an average price of $7.01, for a total transaction of $26,168.33.
• On Thursday, August 27th, Bioventures 2018 L.P. Mpm sold 38,922 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.20, for a total transaction of $280,238.40.

Entrada Therapeutics Stock Down 5.5%

Shares of TRDA opened at $7.11 on Thursday. The stock has a market capitalization of $276.86 million, a P/E ratio of -1.80 and a beta of -0.25. Entrada Therapeutics, Inc. has a twelve month low of $5.02 and a twelve month high of $16.45. The firm has a fifty day simple moving average of $7.05 and a two-hundred day simple moving average of $9.09.

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

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TRDA. Alliancebernstein L.P. raised its stake in 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 buying an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 worth $246,000 after acquiring an additional 1,970 shares during the period. Great Lakes Advisors LLC grew its holdings 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 worth $445,000 after acquiring an additional 2,239 shares during the period. Quadrature Capital Ltd grew its holdings in shares of Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after acquiring an additional 2,424 shares during the period. Finally, First Trust Advisors LP raised 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 in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen raised Entrada Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Weiss Ratings raised Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Finally, Guggenheim decreased their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Four 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. Based on data from MarketBeat, Entrada Therapeutics currently has an average 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.