Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Acquires $1,141,025.21 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon bought 156,091 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21. Following the completion of the acquisition, the director owned 5,220,762 shares in the company, valued at approximately $38,163,770.22. This represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Electra Therapeutics Trading Up 6.1%

Shares of ETRA stock opened at $7.80 on Friday. Electra Therapeutics, Inc. has a 1-year low of $6.86 and a 1-year high of $15.50.

Trending Headlines about Electra Therapeutics

Here are the key news stories impacting Electra Therapeutics this week:

• Positive Sentiment: OrbiMed Advisors acquired 472,571 shares from November 3–5 for approximately $3.6 million, increasing its reported stake. The repeated purchases are the clearest recent potential positive catalyst for ETRA. Article on insider purchases
• Neutral Sentiment: The company is scheduled to present at the Jefferies Global Healthcare Conference on November 18. The appearance could raise its profile, but the announcement did not include new clinical or business updates. Conference announcement

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ETRA shares. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a report on Wednesday, October 14th. TD Cowen assumed coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They issued a “buy” rating for the company. JPMorgan Chase & Co. started coverage on Electra Therapeutics in a report on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price target for the company. Finally, HC Wainwright assumed coverage on Electra Therapeutics in a research report on Monday, October 26th. They set a “buy” rating and a $30.00 price objective on the stock. One 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, the company currently has a consensus rating of “Buy” and an average target price of $33.50.

About Electra Therapeutics

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.