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 firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $7.34, for a total transaction of $158,712.82. Following the sale, the insider owned 4,359,439 shares of the company’s stock, valued at approximately $31,998,282.26. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% 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 transaction of $102,857.14.
• On Tuesday, August 25th, Bioventures 2014 L.P. Mpm sold 26,522 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.54, for a total transaction of $199,975.88.

Entrada Therapeutics Trading Down 8.1%

TRDA stock traded down $0.62 during midday trading on Wednesday, reaching $7.00. The company had a trading volume of 229,319 shares, compared to its average volume of 334,500. Entrada Therapeutics, Inc. has a 1 year low of $5.02 and a 1 year high of $16.45. The company has a market capitalization of $272.58 million, a P/E ratio of -1.77 and a beta of -0.26. The company has a 50 day moving average of $7.08 and a two-hundred day moving average of $9.36.

Entrada Therapeutics (NASDAQ:TRDA) last posted 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 for the quarter, compared to analysts’ expectations of $2.32 million. On average, sell-side analysts anticipate that Entrada Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. 5AM Venture Management LLC bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at $29,854,949,000. BlackRock Inc. bought a new stake in Entrada Therapeutics in the second quarter worth $19,013,000. Millennium Management LLC increased its position in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after buying an additional 666,287 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in Entrada Therapeutics during the second quarter worth $2,212,232,000. Finally, Citadel Advisors LLC increased its position in Entrada Therapeutics by 234.5% during the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after buying an additional 235,384 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TRDA shares. HC Wainwright downgraded Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Roth Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Guggenheim cut their price target on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Finally, Weiss Ratings lowered Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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.