Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Purchases 22,700 Shares of Company Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc bought 22,700 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were bought at an average cost of $8.45 per share, for a total transaction of $191,815.00. Following the completion of the transaction, the director directly owned 5,255,278 shares of the company’s stock, valued at $44,407,099.10. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

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

Electra Therapeutics Trading Down 2.8%

Shares of ETRA traded down $0.23 during midday trading on Tuesday, hitting $7.99. The stock had a trading volume of 298,185 shares, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ETRA shares. Evercore started 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. TD Cowen initiated coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on Electra Therapeutics in a research note on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price objective for the company. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Finally, 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Electra Therapeutics 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 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.