Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Orbimed Advisors Llc Purchases 20,000 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc bought 20,000 shares of the company’s stock in a transaction on Monday, November 9th. The stock was bought at an average price of $8.24 per share, for a total transaction of $164,800.00. Following the completion of the purchase, the director directly owned 5,234,578 shares in the company, valued at approximately $43,132,922.72. This represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, November 10th, Orbimed Advisors Llc bought 22,700 shares of Electra Therapeutics stock. The shares were bought at an average cost of $8.45 per share, for a total transaction of $191,815.00.
• On Friday, November 6th, Orbimed Advisors Llc bought 49,416 shares of Electra Therapeutics stock. The shares were bought at an average cost of $7.85 per share, for a total transaction of $387,915.60.
• On Thursday, November 5th, Orbimed Advisors Llc purchased 156,091 shares of Electra Therapeutics stock. The shares were bought 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 purchased 71,367 shares of Electra Therapeutics stock. The stock was purchased at an average price of $7.53 per share, with a total value of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc acquired 245,113 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $7.86 per share, for a total transaction of $1,926,588.18.
• On Monday, September 21st, Orbimed Advisors Llc acquired 1,333,333 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $19,999,995.00.

Electra Therapeutics Stock Performance

ETRA opened at $9.45 on Thursday. Electra Therapeutics, Inc. has a 52 week low of $6.86 and a 52 week high of $15.50.

Top Electra Therapeutics Stories

Here are a few of the latest stories about ETRA:

• 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ETRA shares. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. HC Wainwright began coverage on Electra Therapeutics in a report on Monday, October 26th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Electra Therapeutics in a research note on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group initiated coverage on shares of Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating and a $32.00 target price on the stock. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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 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.