Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Acquires 49,416 Shares of Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 49,416 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $387,915.60. Following the purchase, the director directly owned 5,230,578 shares in the company, valued at $41,060,037.30. This represents a 0.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 10th, Orbimed Advisors Llc acquired 22,700 shares of Electra Therapeutics stock. The shares were bought at an average price of $8.45 per share, for a total transaction of $191,815.00.
• On Monday, November 9th, Orbimed Advisors Llc acquired 20,000 shares of Electra Therapeutics stock. The shares were bought at an average price of $8.24 per share, for a total transaction of $164,800.00.
• On Thursday, November 5th, Orbimed Advisors Llc acquired 156,091 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc acquired 71,367 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.53 per share, with a total value 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 bought 1,333,333 shares of Electra Therapeutics stock. The stock was purchased at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Price Performance

Shares of Electra Therapeutics stock traded down $0.23 during trading on Tuesday, hitting $7.99. The stock had a trading volume of 298,185 shares, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a 1 year low of $6.86 and a 1 year high of $15.50.

Wall Street Analysts Forecast Growth

ETRA has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. TD Cowen began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating on the stock. Cantor Fitzgerald began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set an “overweight” rating on the stock. Evercore initiated coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, HC Wainwright initiated coverage on Electra Therapeutics in a research report on Monday, October 26th. They issued a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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 SIRP?, 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.