Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Acquires $1,926,588.18 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon bought 245,113 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $7.86 per share, with a total value of $1,926,588.18. Following the completion of the purchase, the director owned 5,175,604 shares in the company, valued at approximately $40,680,247.44. The trade was a 4.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Electra Therapeutics Stock Performance

NASDAQ ETRA opened at $7.80 on Friday. Electra Therapeutics, Inc. has a 52-week low of $6.86 and a 52-week high of $15.50.

More Electra Therapeutics News

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

ETRA has been the subject of several research reports. Cantor Fitzgerald assumed coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating for the company. Evercore started coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set an “outperform” rating and a $36.00 target price on the stock. Wall Street Zen upgraded 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 research note on Wednesday, October 14th. Finally, Jefferies Financial Group initiated coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued a “buy” rating and a $32.00 price target for the company. One research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.