Entrada Therapeutics (NASDAQ:TRDA) Director Sells $1,760,000.00 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 200,000 shares of Entrada Therapeutics stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $8.80, for a total value of $1,760,000.00. Following the completion of the sale, the director directly owned 2,963,066 shares in the company, valued at approximately $26,074,980.80. This represents a 6.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Entrada Therapeutics Price Performance

NASDAQ:TRDA traded up $0.35 during trading hours on Tuesday, reaching $8.82. 330,970 shares of the stock were exchanged, compared to its average volume of 187,747. The stock has a market cap of $337.10 million, a PE ratio of -3.54 and a beta of -0.09. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $21.79. The firm has a 50 day moving average of $6.30 and a 200 day moving average of $6.66.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.02). The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. Equities research analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Roth Capital set a $13.00 price target on Entrada Therapeutics in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Entrada Therapeutics has an average rating of “Moderate Buy” and an average price target of $20.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Merck & Co. Inc. bought a new position in shares of Entrada Therapeutics in the first quarter worth $15,728,000. Wellington Management Group LLP raised its stake in shares of Entrada Therapeutics by 2.1% during the first quarter. Wellington Management Group LLP now owns 1,053,314 shares of the company’s stock valued at $9,522,000 after acquiring an additional 21,488 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 666,287 shares during the period. Geode Capital Management LLC grew its stake in shares of Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after purchasing an additional 42,479 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Entrada Therapeutics by 54.8% in the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock valued at $2,004,000 after purchasing an additional 122,256 shares during the period. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.