Electra Therapeutics (NASDAQ:ETRA) Issues Quarterly Earnings Results, Misses Estimates By $1.71 EPS

Electra Therapeutics (NASDAQ:ETRA) posted its quarterly earnings data on Thursday. The company reported ($3.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.76) by ($1.71), Zacks reports.

Electra Therapeutics Stock Down 8.3%

Shares of ETRA traded down $0.76 during mid-day trading on Friday, hitting $8.35. The company’s stock had a trading volume of 40,698 shares, compared to its average volume of 462,102. Electra Therapeutics has a 52-week low of $6.86 and a 52-week high of $15.50.

Insider Transactions at Electra Therapeutics

In related news, Director Carl Gordon bought 22,700 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were bought at an average price of $8.45 per share, for a total transaction of $191,815.00. Following the completion of the purchase, the director directly owned 5,255,278 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc acquired 22,700 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was purchased at an average cost of $8.45 per share, for a total transaction of $191,815.00. Following the transaction, the director owned 5,255,278 shares in the company, valued at approximately $44,407,099.10. The trade was a 0.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 3,796,040 shares of company stock worth $48,699,065.

Analyst Ratings Changes

A number of research analysts have recently commented on ETRA shares. Evercore began coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They set an “outperform” rating and a $36.00 target price on the stock. TD Cowen started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating for the company. HC Wainwright assumed coverage on Electra Therapeutics in a research report on Monday, October 26th. They issued a “buy” rating and a $30.00 price objective on the stock. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. Finally, Cantor Fitzgerald started coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Electra Therapeutics presently has a consensus rating of “Buy” and an average price target 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 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.