Goldman Sachs Group Inc. Sells 192,732 Shares of Entrada Therapeutics, Inc. $TRDA

Goldman Sachs Group Inc. cut its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 67.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,540 shares of the company’s stock after selling 192,732 shares during the period. Goldman Sachs Group Inc.’s holdings in Entrada Therapeutics were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Entrada Therapeutics by 53.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,020 shares of the company’s stock valued at $149,000 after buying an additional 5,896 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Entrada Therapeutics in the 4th quarter valued at about $57,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Entrada Therapeutics by 152.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,750 shares of the company’s stock valued at $618,000 after buying an additional 21,594 shares in the last quarter. Deutsche Bank AG increased its position in Entrada Therapeutics by 55.5% in the 4th quarter. Deutsche Bank AG now owns 21,740 shares of the company’s stock valued at $376,000 after buying an additional 7,757 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Entrada Therapeutics in the 4th quarter valued at about $251,000. 86.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Zacks Research raised Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Entrada Therapeutics currently has an average rating of “Buy” and an average target price of $25.67.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, Director Kush Parmar sold 27,000 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total transaction of $202,500.00. Following the sale, the director owned 1,093,313 shares in the company, valued at $8,199,847.50. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $52,012.50. Following the sale, the insider owned 1,093,313 shares in the company, valued at approximately $8,199,847.50. This represents a 0.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,000 shares of company stock worth $1,782,000. Company insiders own 7.59% of the company’s stock.

Entrada Therapeutics Trading Down 3.6%

Entrada Therapeutics stock opened at $5.09 on Wednesday. Entrada Therapeutics, Inc. has a 12 month low of $4.93 and a 12 month high of $21.79. The business’s 50 day simple moving average is $5.64 and its 200 day simple moving average is $7.38. The company has a market cap of $193.61 million, a price-to-earnings ratio of -2.86 and a beta of -0.13.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.18). The firm had revenue of $1.98 million during the quarter, compared to analysts’ expectations of $8.17 million. Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. As a group, equities research analysts forecast that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

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.