Wellington Management Group LLP Sells 80,363 Shares of Entrada Therapeutics, Inc. $TRDA

Wellington Management Group LLP cut its stake in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 7.8% during the second quarter, HoldingsChannel reports. The firm owned 954,419 shares of the company’s stock after selling 80,363 shares during the quarter. Wellington Management Group LLP’s holdings in Entrada Therapeutics were worth $7,025,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State of Wyoming purchased a new position in shares of Entrada Therapeutics in the 2nd quarter worth approximately $37,000. Russell Investments Group Ltd. raised its holdings in Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares during the period. Occudo Quantitative Strategies LP bought a new stake in Entrada Therapeutics in the second quarter worth $68,000. Jain Global LLC bought a new stake in Entrada Therapeutics in the third quarter worth $69,000. Finally, IHT Wealth Management LLC purchased a new position in Entrada Therapeutics during the second quarter worth $72,000. 86.39% of the stock is owned by institutional investors.

Insider Activity at Entrada Therapeutics

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $6.99, for a total value of $309,370.41. Following the transaction, the insider owned 4,231,434 shares of the company’s stock, valued at $29,577,723.66. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bioventures 2014 L.P. Mpm sold 26,522 shares of Entrada Therapeutics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $7.54, for a total value of $199,975.88. Following the sale, the insider directly owned 4,332,917 shares of the company’s stock, valued at approximately $32,670,194.18. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 687,124 shares of company stock valued at $4,819,524. 9.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRDA shares. Guggenheim reduced 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 note on Monday, June 8th. Wall Street Zen upgraded shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Roth Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Entrada Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Entrada Therapeutics Trading Up 5.5%

NASDAQ:TRDA opened at $7.52 on Wednesday. The company has a market cap of $292.83 million, a price-to-earnings ratio of -1.90 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 stock has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $9.12.

Entrada Therapeutics (NASDAQ:TRDA) last posted 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). The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. As a group, equities research analysts predict that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

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.