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

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

Electra Therapeutics Stock Down 3.6%

Shares of NASDAQ ETRA traded down $0.34 during midday trading on Thursday, hitting $9.11. The company’s stock had a trading volume of 545,248 shares, compared to its average volume of 356,886. Electra Therapeutics has a 1-year low of $6.86 and a 1-year high of $15.50.

Insider Buying and Selling at Electra Therapeutics

In other Electra Therapeutics news, Director Carl L. Gordon purchased 1,333,333 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was bought at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the purchase, the director owned 5,126,891 shares in the company, valued at $76,903,365. This trade represents a 35.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orbimed Advisors Llc purchased 1,333,333 shares of the stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $19,999,995.00. Following the completion of the acquisition, the director directly owned 5,126,891 shares of the company’s stock, valued at approximately $76,903,365. This trade represents a 35.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 3,796,040 shares of company stock valued at $48,699,065.

Analyst Upgrades and Downgrades

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