Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells $358,371.45 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 52,317 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $6.85, for a total transaction of $358,371.45. Following the completion of the sale, the director owned 2,783,781 shares in the company, valued at approximately $19,068,899.85. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, August 10th, Kush Parmar sold 92,444 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total transaction of $647,108.00.
• On Thursday, August 6th, Kush Parmar sold 10,494 shares of Entrada Therapeutics stock. The shares were sold at an average price of $7.00, for a total transaction of $73,458.00.
• 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 transaction of $11,768.30.
• On Thursday, July 30th, Kush Parmar sold 114,756 shares of Entrada Therapeutics stock. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA traded up $0.08 during mid-day trading on Monday, reaching $6.95. 411,770 shares of the company were exchanged, compared to its average volume of 464,800. Entrada Therapeutics, Inc. has a 1 year low of $4.93 and a 1 year high of $16.45. The firm’s 50-day simple moving average is $6.86 and its 200 day simple moving average is $9.68. The firm has a market cap of $270.63 million, a price-to-earnings ratio of -1.76 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.04). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. On average, research analysts forecast that Entrada Therapeutics, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRDA. Weiss Ratings downgraded shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. HC Wainwright downgraded shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Guggenheim cut their price objective on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, Roth Capital set a $10.00 price objective on Entrada Therapeutics in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Entrada Therapeutics has an average rating of “Hold” and an average target price of $17.50.

Institutional Trading of Entrada Therapeutics

A number of large investors have recently made changes to their positions in TRDA. State of Wyoming purchased a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at approximately $37,000. Russell Investments Group Ltd. lifted its position in shares of Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Entrada Therapeutics during the 2nd quarter worth $68,000. Jain Global LLC acquired a new position in shares of Entrada Therapeutics during the third quarter worth $69,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics during the second quarter worth $72,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Entrada Therapeutics Company Profile

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.