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

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 71,367 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were acquired at an average cost of $7.53 per share, for a total transaction of $537,393.51. Following the completion of the transaction, the director directly owned 5,189,871 shares in the company, valued at approximately $39,079,728.63. This represents a 1.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Orbimed Advisors Llc also recently made the following trade(s):

• On Thursday, November 5th, Orbimed Advisors Llc acquired 156,091 shares of Electra Therapeutics stock. The shares were acquired at an average price of $7.31 per share, with a total value of $1,141,025.21.
• On Tuesday, November 3rd, Orbimed Advisors Llc acquired 245,113 shares of Electra Therapeutics stock. The stock was bought at an average price of $7.86 per share, with a total value of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc acquired 1,333,333 shares of Electra Therapeutics stock. The stock was bought at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Stock Down 7.8%

Shares of NASDAQ:ETRA traded down $0.62 during midday trading on Thursday, reaching $7.35. The company had a trading volume of 524,786 shares, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a 1-year low of $6.86 and a 1-year high of $15.50.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. began coverage on Electra Therapeutics in a research note on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price target for the company. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Jefferies Financial Group began coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating and a $32.00 price objective on the stock. Cantor Fitzgerald started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “overweight” rating for the company. Finally, TD Cowen initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating for the company. One equities research 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 stock. According to MarketBeat.com, Electra Therapeutics presently has a consensus rating of “Buy” and a consensus 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.