Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Carl Gordon Buys 49,416 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon acquired 49,416 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was purchased at an average cost of $7.85 per share, for a total transaction of $387,915.60. Following the completion of the acquisition, the director owned 5,230,578 shares in the company, valued at approximately $41,060,037.30. This represents a 0.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Electra Therapeutics Price Performance

Shares of ETRA traded down $0.23 during midday trading on Tuesday, reaching $7.99. 298,185 shares of the stock were exchanged, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a twelve month low of $6.86 and a twelve month high of $15.50.

Wall Street Analysts Forecast Growth

ETRA has been the subject of several analyst reports. Zacks Research upgraded shares of Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. TD Cowen initiated coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They set a “buy” rating on the stock. Cantor Fitzgerald began coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They set an “overweight” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of Electra Therapeutics in a report on Thursday, October 22nd. They set an “overweight” rating and a $36.00 target price on the stock. Finally, Evercore initiated coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned 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.

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.