Electra Therapeutics (NASDAQ:ETRA) Director Buys $1,926,588.18 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 245,113 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average price of $7.86 per share, for a total transaction of $1,926,588.18. Following the completion of the acquisition, the director owned 5,175,604 shares of the company’s stock, valued at approximately $40,680,247.44. This represents a 4.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 5th, Orbimed Advisors Llc bought 156,091 shares of Electra Therapeutics stock. The stock was acquired 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 stock was bought at an average price of $7.53 per share, with a total value of $537,393.51.
• On Monday, September 21st, Orbimed Advisors Llc purchased 1,333,333 shares of Electra Therapeutics stock. The stock was bought at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Price Performance

Shares of Electra Therapeutics stock opened at $7.80 on Friday. Electra Therapeutics, Inc. has a 12-month low of $6.86 and a 12-month high of $15.50.

Analyst Ratings Changes

A number of brokerages recently weighed in on ETRA. Zacks Research upgraded shares of Electra Therapeutics to a “hold” rating in a report on Wednesday, October 14th. Wall Street Zen upgraded shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Cantor Fitzgerald began coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They issued an “overweight” rating for the company. Evercore assumed coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, TD Cowen began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $33.50.

Electra Therapeutics News Roundup

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

• Positive Sentiment: OrbiMed Advisors acquired 472,571 shares from November 3–5 for approximately $3.6 million, increasing its reported stake. The repeated purchases are the clearest recent potential positive catalyst for ETRA. Article on insider purchases
• Neutral Sentiment: The company is scheduled to present at the Jefferies Global Healthcare Conference on November 18. The appearance could raise its profile, but the announcement did not include new clinical or business updates. Conference announcement

Electra Therapeutics Company Profile

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 SIRP?, 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.