Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Purchases $537,393.51 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon bought 71,367 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average price of $7.53 per share, with a total value of $537,393.51. Following the completion of the transaction, the director directly owned 5,189,871 shares of the company’s stock, valued at $39,079,728.63. This represents a 1.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Electra Therapeutics Price Performance

ETRA traded down $0.62 during trading on Thursday, reaching $7.35. The stock had a trading volume of 524,786 shares, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a one year low of $6.86 and a one year high of $15.50.

Wall Street Analysts Forecast Growth

ETRA has been the subject of a number of research reports. Evercore assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price objective for the company. HC Wainwright initiated coverage on Electra Therapeutics in a report on Monday, October 26th. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a research report on Wednesday, October 14th. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Finally, Cantor Fitzgerald started coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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 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.