Electra Therapeutics (NASDAQ:ETRA) Director Acquires $537,393.51 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon purchased 71,367 shares of the firm’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 purchase, the director directly owned 5,189,871 shares of the company’s stock, valued at approximately $39,079,728.63. This represents a 1.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Electra Therapeutics Stock Up 6.1%

Shares of ETRA opened at $7.80 on Friday. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.

Trending Headlines about Electra Therapeutics

Here are the key news stories impacting Electra Therapeutics this week:

• Positive Sentiment: OrbiMed Advisors acquired 472,571 shares from November 3–5 for approximately $3.6 million, increasing its reported stake. The repeated purchases are the clearest recent potential positive catalyst for ETRA. Article on insider purchases
• Neutral Sentiment: The company is scheduled to present at the Jefferies Global Healthcare Conference on November 18. The appearance could raise its profile, but the announcement did not include new clinical or business updates. Conference announcement

Analyst Ratings Changes

Several analysts have weighed in on ETRA shares. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. HC Wainwright assumed coverage on Electra Therapeutics in a research note 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 report on Wednesday, October 14th. Jefferies Financial Group started coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 target price for the company. Finally, TD Cowen assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating for the company. One equities 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.