Entrada Therapeutics (NASDAQ:TRDA) Shares Down 7.1% on Insider Selling

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price was down 7.1% during trading on Thursday following insider selling activity. The stock traded as low as $18.29 and last traded at $18.48. Approximately 37,798 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 107,473 shares. The stock had previously closed at $19.90.

Specifically, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the completion of the transaction, the insider now directly owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRDA. HC Wainwright increased their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer increased their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Roth Mkm started coverage on Entrada Therapeutics in a research report on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price on the stock.

Entrada Therapeutics Price Performance

The business’s 50-day simple moving average is $18.41 and its two-hundred day simple moving average is $16.62. The stock has a market capitalization of $660.84 million, a price-to-earnings ratio of 11.11 and a beta of -0.18.

Institutional Trading of Entrada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TRDA. US Bancorp DE acquired a new stake in Entrada Therapeutics during the 3rd quarter valued at $42,000. SG Americas Securities LLC purchased a new position in Entrada Therapeutics in the 3rd quarter valued at about $156,000. Acadian Asset Management LLC grew its stake in shares of Entrada Therapeutics by 135.1% during the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock valued at $190,000 after acquiring an additional 7,682 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Entrada Therapeutics by 34.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock worth $226,000 after acquiring an additional 3,644 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Entrada Therapeutics by 89.1% during the third quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock worth $260,000 after acquiring an additional 7,659 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other 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.