Jefferies Financial Group Initiates Coverage on Electra Therapeutics (NASDAQ:ETRA)

Jefferies Financial Group assumed coverage on shares of Electra Therapeutics (NASDAQ:ETRA) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 265.71% from the company’s current price.

A number of other analysts have also recently issued reports on ETRA. Cantor Fitzgerald began coverage on Electra Therapeutics in a research report on Tuesday. They issued an “overweight” rating for the company. Evercore began coverage on Electra Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $36.00 price objective for the company. TD Cowen began coverage on Electra Therapeutics in a research report on Tuesday. They issued a “buy” rating for the company. Finally, Wall Street Zen raised Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average price target of $34.00.

Electra Therapeutics Price Performance

NASDAQ ETRA traded down $0.19 during trading hours on Tuesday, hitting $8.75. 34,624 shares of the company traded hands, compared to its average volume of 567,235. Electra Therapeutics has a twelve month low of $8.50 and a twelve month high of $15.50.

Insider Buying and Selling at Electra Therapeutics

In related news, Director Carl Gordon acquired 1,333,333 shares of the company’s stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the acquisition, the director directly owned 5,126,891 shares of the company’s stock, valued at approximately $76,903,365. The trade was a 35.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Orbimed Advisors Llc acquired 1,333,333 shares of the company’s stock in a transaction on Monday, September 21st. The stock was bought at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the acquisition, the director directly owned 5,126,891 shares in the company, valued at approximately $76,903,365. This represents a 35.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Electra Therapeutics Company Profile

Electra Therapeutics, Inc (NASDAQ: ETRA) is a clinical-stage biopharmaceutical company focused on developing therapies that modulate the immune system. The company’s research is directed toward selectively influencing immune-cell activity to address serious diseases, including cancer and autoimmune conditions.

Electra Therapeutics is advancing a pipeline of investigational medicines based on its immune-cell modulation approach. Its programs are intended to improve the body’s ability to recognize, control, or eliminate disease-associated cells while limiting effects on healthy tissue.