Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Orbimed Advisors Llc Purchases 22,700 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc acquired 22,700 shares of the stock in a transaction on Tuesday, November 10th. The stock was purchased at an average cost of $8.45 per share, with a total value of $191,815.00. Following the transaction, the director directly owned 5,255,278 shares of the company’s stock, valued at $44,407,099.10. This represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, November 9th, Orbimed Advisors Llc acquired 20,000 shares of Electra Therapeutics stock. The shares were purchased at an average price of $8.24 per share, for a total transaction of $164,800.00.
• On Friday, November 6th, Orbimed Advisors Llc bought 49,416 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.85 per share, for a total transaction of $387,915.60.
• On Thursday, November 5th, Orbimed Advisors Llc bought 156,091 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.31 per share, for a total transaction of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc bought 71,367 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.53 per share, for a total transaction of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc bought 245,113 shares of Electra Therapeutics stock. The stock was purchased at an average price of $7.86 per share, with a total value of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc purchased 1,333,333 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Stock Up 18.3%

ETRA opened at $9.45 on Thursday. Electra Therapeutics, Inc. has a twelve month low of $6.86 and a twelve month high of $15.50.

Electra Therapeutics News Roundup

These are some of the ETRA news items that stood out recently:

• Positive Sentiment: OrbiMed reported buying 92,116 shares on November 6, 9 and 10 for about $744,500 in total, adding to purchases earlier in November. Repeated insider buying may support investor confidence, though it does not guarantee future performance. Insider purchase report
• Neutral Sentiment: A short-interest update reported zero shares short and zero days to cover as of November 10, but also described short interest as having increased, an apparent inconsistency that makes the data difficult to interpret.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ETRA. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Zacks Research raised Electra Therapeutics to a “hold” rating in a research report on Wednesday, October 14th. TD Cowen began coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating on the stock. Evercore assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Jefferies Financial Group assumed 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 given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Electra Therapeutics presently has an average rating of “Buy” and an average 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.