Kory James Wentworth, the Chief Financial Officer of Entrada Therapeutics, Inc. (NASDAQ:TRDA), a $719 million market cap biotech company trading near its 52-week high of $20.50, recently reported significant stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has delivered an impressive 51.6% return over the past year. On November 29 and December 2, Wentworth executed options and subsequently sold shares of the company.
On November 29, Wentworth acquired 1,000 shares at an exercise price of $2.10 each and sold the same number of shares at a weighted average price of $19.9703. The shares were sold in multiple transactions at prices ranging from $19.95 to $20.00. Following this, on December 2, he acquired an additional 5,000 shares at the same exercise price and sold them at a weighted average price of $19.9956, with transaction prices ranging from $19.95 to $20.18. The stock’s current valuation metrics show a P/E ratio of 12.8, with analysts maintaining a Strong Buy consensus.
The total value of the shares sold across these transactions amounted to approximately $119,948. These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted earlier this year on March 15. Following these transactions, Wentworth holds 73,849 shares directly. The company maintains a GREAT financial health score according to InvestingPro analysis, with 12 additional key insights available to subscribers.
In other recent news, Entrada Therapeutics has seen significant advancements with its Duchenne muscular dystrophy treatments, ENTR-601-44 and ENTR-601-45. The company’s recent financial results revealed a net income of $55 million and a solid cash balance of $470 million. Analysts from firms such as Oppenheimer, TD Cowen, and H.C. Wainwright have responded positively to these developments, maintaining a Buy rating on Entrada Therapeutics and increasing their stock targets.
Entrada’s recent Phase 1 ENTR-601-44-101 trial met all objectives with no adverse events, and the company plans to file for global Phase 2 clinical trials for ENTR-601-44 and ENTR-601-45 in Q4 2024. Additionally, a third Duchenne candidate, ENTR-601-50, is slated for Phase 2 trials in 2025. The company also recently promoted Natarajan Sethuraman, PhD, to President of Research and Development, further supporting their research efforts.
In collaboration with Vertex Pharmaceuticals (NASDAQ:), Entrada has completed a Single Ascending Dose study for the DM1 program, marking a new stage in the partnership. The company also secured approximately $100 million through a securities purchase agreement, further bolstering its financial position. All these recent developments highlight Entrada Therapeutics’ continued progress in its therapeutic programs.
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