Electra Therapeutics, Inc.’s Quiet Period Set To End on October 28th (NASDAQ:ETRA)

Electra Therapeutics’ (NASDAQ:ETRA) quiet period will end on Wednesday, October 28th. Electra Therapeutics had issued 23,333,334 shares in its IPO on September 18th. The total size of the offering was $350,000,010 based on an initial share price of $15.00. During Electra Therapeutics’ quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several brokerages recently commented on ETRA. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. Jefferies Financial Group began coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Electra Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $36.00 price target for the company. Cantor Fitzgerald started coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They issued an “overweight” rating on the stock. Finally, Evercore started coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They set an “outperform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Electra Therapeutics has a consensus rating of “Buy” and an average target price of $34.67.

Electra Therapeutics Stock Performance

ETRA opened at $8.71 on Friday. Electra Therapeutics has a twelve month low of $8.50 and a twelve month high of $15.50.

Insider Buying and Selling

In related news, Director Carl Gordon bought 1,333,333 shares of the business’s stock in a transaction on Monday, September 21st. The stock was acquired at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the transaction, the director owned 5,126,891 shares in the company, valued at approximately $76,903,365. This trade represents a 35.15% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Orbimed Advisors Llc bought 1,333,333 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were bought at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the purchase, the director owned 5,126,891 shares in the company, valued at approximately $76,903,365. The trade was a 35.15% increase in their position. The SEC filing for this purchase provides additional information.

About Electra Therapeutics

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.