Electra Therapeutics (NASDAQ:ETRA) Director Purchases 20,000 Shares of Company Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon purchased 20,000 shares of Electra Therapeutics stock in a transaction dated Monday, November 9th. The stock was bought at an average price of $8.24 per share, with a total value of $164,800.00. Following the completion of the transaction, the director owned 5,234,578 shares of the company’s stock, valued at $43,132,922.72. This represents a 0.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Electra Therapeutics Trading Down 2.8%

Shares of NASDAQ:ETRA traded down $0.23 during midday trading on Tuesday, reaching $7.99. 298,185 shares of the company traded hands, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a 12 month low of $6.86 and a 12 month high of $15.50.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETRA. JPMorgan Chase & Co. started coverage on shares of Electra Therapeutics in a report on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price target on the stock. TD Cowen initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating for the company. Zacks Research raised shares of Electra Therapeutics to a “hold” rating in a report on Wednesday, October 14th. HC Wainwright initiated coverage on shares of Electra Therapeutics in a research note on Monday, October 26th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from 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.