Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Orbimed Advisors Llc Purchases 156,091 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc acquired 156,091 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $7.31 per share, for a total transaction of $1,141,025.21. Following the transaction, the director owned 5,220,762 shares of the company’s stock, valued at $38,163,770.22. This represents a 3.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 4th, Orbimed Advisors Llc bought 71,367 shares of Electra Therapeutics stock. The shares were acquired at an average price 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 acquired at an average cost of $7.86 per share, with a total value of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc purchased 1,333,333 shares of Electra Therapeutics stock. The stock was acquired at an average price of $15.00 per share, for a total transaction of $19,999,995.00.

Electra Therapeutics Trading Down 7.8%

ETRA traded down $0.62 on Thursday, hitting $7.35. 524,786 shares of the company were exchanged, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a 12 month low of $6.86 and a 12 month high of $15.50.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a report on Saturday, September 26th. HC Wainwright started coverage on Electra Therapeutics in a report on Monday, October 26th. They issued a “buy” rating and a $30.00 price objective on the stock. Evercore began coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set an “outperform” rating and a $36.00 price objective on the stock. Jefferies Financial Group initiated coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Zacks Research raised Electra Therapeutics to a “hold” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average 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.