Electra Therapeutics (NASDAQ:ETRA) Director Carl Gordon Purchases 245,113 Shares of Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon acquired 245,113 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average cost of $7.86 per share, with a total value of $1,926,588.18. Following the purchase, the director owned 5,175,604 shares of the company’s stock, valued at approximately $40,680,247.44. This trade represents a 4.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Electra Therapeutics Stock Performance

Shares of Electra Therapeutics stock opened at $7.35 on Friday. Electra Therapeutics, Inc. has a 52-week low of $6.86 and a 52-week high of $15.50.

More Electra Therapeutics News

Here are the key news stories impacting Electra Therapeutics this week:

• Positive Sentiment: Director Carl Gordon, associated with OrbiMed Advisors, reported purchases totaling 472,571 shares across November 3–5, worth approximately $3.6 million. The transactions increased his reported position, a sign of insider confidence. SEC filing
• Neutral Sentiment: Management plans to present at the Jefferies Global Healthcare Conference in London on November 18. The announcement provides an opportunity to discuss the company, but no new clinical or business developments were included. Conference announcement

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Electra Therapeutics in a research report on Thursday, October 22nd. They set an “overweight” rating and a $36.00 price target for the company. TD Cowen began coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They issued a “buy” rating on the stock. Zacks Research upgraded shares of Electra Therapeutics to a “hold” rating in a research report on Wednesday, October 14th. Jefferies Financial Group assumed coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating and a $32.00 price objective for the company. Finally, HC Wainwright assumed coverage on shares of Electra Therapeutics in a report on Monday, October 26th. They set a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price 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.