Electra Therapeutics (NASDAQ:ETRA) Stock Bumped Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Electra Therapeutics (NASDAQ:ETRA) to a hold rating in a report released on Saturday,Wall Street Zen reports.

Electra Therapeutics Stock Performance

ETRA opened at $11.55 on Friday. Electra Therapeutics has a 52-week low of $11.27 and a 52-week high of $15.50.

Insider Activity

In related news, Director Orbimed Advisors Llc purchased 1,333,333 shares of the stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the acquisition, the director directly owned 5,126,891 shares in the company, valued at $76,903,365. The trade was a 35.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl L. Gordon bought 1,333,333 shares of the stock in a transaction dated Monday, September 21st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the purchase, the director owned 5,126,891 shares of the company’s stock, valued at $76,903,365. This trade represents a 35.15% increase in their position. The disclosure for this purchase is available in the SEC filing.

Electra Therapeutics Company Profile

Electra Therapeutics, Inc is a clinical-stage biopharmaceutical company developing therapies for severe immune-mediated diseases. The company is focused on creating treatments designed to selectively remove disease-causing immune cells while preserving healthy immune cells.

Electra’s lead product candidate, ELA026, is an investigational antibody being developed for conditions involving harmful immune-cell activity. The company is evaluating the candidate in clinical studies for diseases including systemic sclerosis and immune thrombocytopenia.

Electra Therapeutics is headquartered in the United States and is focused primarily on advancing its pipeline through clinical development.