Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Purchases $387,915.60 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc bought 49,416 shares of the firm’s stock in a transaction that occurred 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 purchase, the director owned 5,230,578 shares of the company’s stock, valued at $41,060,037.30. This trade represents a 0.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 10th, Orbimed Advisors Llc purchased 22,700 shares of Electra Therapeutics stock. The shares were purchased at an average price of $8.45 per share, with a total value of $191,815.00.
• On Monday, November 9th, Orbimed Advisors Llc purchased 20,000 shares of Electra Therapeutics stock. The shares were purchased at an average price of $8.24 per share, with a total value of $164,800.00.
• On Thursday, November 5th, Orbimed Advisors Llc purchased 156,091 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc purchased 71,367 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.53 per share, with a total value of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc purchased 245,113 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $7.86 per share, for a total transaction of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc purchased 1,333,333 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $19,999,995.00.

Electra Therapeutics Price Performance

ETRA stock opened at $9.11 on Friday. Electra Therapeutics, Inc. has a 12-month low of $6.86 and a 12-month high of $15.50.

Electra Therapeutics (NASDAQ:ETRA) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($3.47) EPS for the quarter, missing the consensus estimate of ($1.76) by ($1.71). Sell-side analysts anticipate that Electra Therapeutics, Inc. will post -3.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set an “outperform” rating and a $36.00 price target on the stock. Jefferies Financial Group initiated coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set a “buy” rating and a $32.00 price target for the company. Cantor Fitzgerald began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “overweight” rating for the company. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Finally, HC Wainwright started coverage on Electra Therapeutics in a research note on Monday, October 26th. They set a “buy” rating and a $30.00 target price on the stock. 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 company’s stock. According to data from MarketBeat, Electra Therapeutics currently 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.