Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Acquires $191,815.00 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 22,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average price of $8.45 per share, with a total value of $191,815.00. Following the transaction, the director directly owned 5,255,278 shares in the company, valued at $44,407,099.10. This trade represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Orbimed Advisors Llc also recently made the following trade(s):

• On Monday, November 9th, Orbimed Advisors Llc purchased 20,000 shares of Electra Therapeutics stock. The stock was bought at an average cost of $8.24 per share, for a total transaction of $164,800.00.
• On Friday, November 6th, Orbimed Advisors Llc acquired 49,416 shares of Electra Therapeutics stock. The shares were bought at an average price of $7.85 per share, for a total transaction of $387,915.60.
• On Thursday, November 5th, Orbimed Advisors Llc acquired 156,091 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc acquired 71,367 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.53 per share, with a total value of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc bought 245,113 shares of Electra Therapeutics stock. The stock was purchased at an average price of $7.86 per share, with a total value of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc bought 1,333,333 shares of Electra Therapeutics stock. The stock was purchased at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Stock Performance

Electra Therapeutics stock opened at $9.11 on Friday. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.

Electra Therapeutics (NASDAQ:ETRA) last released its quarterly earnings results on Thursday, November 12th. The company reported ($3.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.76) by ($1.71). As a group, sell-side analysts predict that Electra Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on ETRA shares. Cantor Fitzgerald started coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They set an “overweight” rating on the stock. Evercore initiated coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 target price for the company. JPMorgan Chase & Co. started coverage on Electra Therapeutics in a research report on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 target price for the company. TD Cowen began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Electra Therapeutics has a consensus rating of “Buy” and a consensus price target of $33.50.

About Electra Therapeutics

Electra Therapeutics, Inc. (NASDAQ: ETRA) is a clinical-stage biotechnology company focused on developing antibody-based medicines for diseases driven by abnormal immune-cell activity. The company’s approach is designed to selectively eliminate or modulate disease-causing immune cells while preserving healthy immune function. Electra’s lead investigational product is ELA026, an antibody targeting SIRPα, a protein involved in immune-cell signaling. The company is evaluating ELA026 in immune-mediated diseases, including systemic sclerosis and other conditions in which macrophages and related immune cells may contribute to disease progression.