Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Carl Gordon Buys 49,416 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon acquired 49,416 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $7.85 per share, with a total value of $387,915.60. Following the acquisition, the director owned 5,230,578 shares of the company’s stock, valued at approximately $41,060,037.30. This trade represents a 0.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Electra Therapeutics Stock Performance

Shares of ETRA stock opened at $9.45 on Thursday. Electra Therapeutics, Inc. has a 12-month low of $6.86 and a 12-month high of $15.50.

Latest Electra Therapeutics News

Here’s some of the latest news about ETRA:

• Positive Sentiment: OrbiMed reported buying 92,116 shares on November 6, 9 and 10 for about $744,500 in total, adding to purchases earlier in November. Repeated insider buying may support investor confidence, though it does not guarantee future performance. Insider purchase report
• Neutral Sentiment: A short-interest update reported zero shares short and zero days to cover as of November 10, but also described short interest as having increased, an apparent inconsistency that makes the data difficult to interpret.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ETRA shares. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Evercore initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set an “outperform” rating and a $36.00 price target for the company. HC Wainwright started 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. Zacks Research upgraded shares of Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. Finally, TD Cowen began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.50.

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.