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

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc bought 245,113 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average cost 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 in the company, valued at $40,680,247.44. This trade represents a 4.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 purchased at an average price of $7.31 per share, with a total value of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc bought 71,367 shares of Electra Therapeutics stock. The stock was purchased 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 shares were acquired at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Trading Down 7.8%

Electra Therapeutics stock traded down $0.62 during midday trading on Thursday, reaching $7.35. 524,786 shares of the company’s stock were exchanged, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a 52 week low of $6.86 and a 52 week high of $15.50.

Analyst Ratings Changes

Several research analysts have recently commented on ETRA shares. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. TD Cowen assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Electra Therapeutics in a research report on Thursday, October 22nd. They set an “overweight” rating and a $36.00 price objective for the company. Finally, Evercore assumed coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Electra Therapeutics has an average rating of “Buy” and an average price target 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 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.