Sethuraman Natarajan, President of Research and Development at Entrada Therapeutics, Inc. (NASDAQ:TRDA), recently sold a significant portion of the company's common stock. The transaction comes as the company's stock trades near its 52-week high of $20.50, having delivered an impressive 51.64% return over the past year. According to a filing with the Securities and Exchange Commission, Natarajan sold a total of 15,891 shares over three days, from November 29 to December 3. The sales were conducted at prices ranging from $20.00 to $20.2626 per share, amounting to a total value of approximately $320,619. The stock has shown resilience with a beta of -0.18, indicating it often moves independently of broader market trends.
Following these transactions, Natarajan retains ownership of 144,997 shares of Entrada Therapeutics. These sales were made under a pre-established Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks, thus helping to avoid potential accusations of insider trading. According to InvestingPro, the company maintains a "GREAT" financial health score, with 12 additional premium insights available to subscribers.
In other recent news, Entrada Therapeutics has reported positive results from its Phase 1 ENTR-601-44-101 trial for Duchenne muscular dystrophy (DMD), leading to upgrades from analysts at Oppenheimer and H.C. Wainwright. The company's Q2 earnings also exceeded expectations, with a reported net income of $55 million. Entrada Therapeutics has also advanced its collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX) on the DM1 program, completing a Single Ascending Dose study. Furthermore, Entrada Therapeutics plans to submit regulatory applications for global Phase 2 clinical trials for its DMD treatments, ENTR-601-44 and ENTR-601-45, with a third candidate, ENTR-601-50, slated for Phase 2 trials in 2025. Additionally, the company has promoted Natarajan Sethuraman, PhD, to President of Research and Development, a move expected to further propel the company's research efforts. These are recent developments that are shaping the trajectory of Entrada Therapeutics.
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