Electra Therapeutics (NASDAQ:ETRA) Director Orbimed Advisors Llc Purchases 156,091 Shares of Company Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 156,091 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average cost of $7.31 per share, with a total value of $1,141,025.21. Following the acquisition, the director owned 5,220,762 shares of the company’s stock, valued at $38,163,770.22. This represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, November 4th, Orbimed Advisors Llc acquired 71,367 shares of Electra Therapeutics stock. The stock was bought 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 shares were 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 price of $15.00 per share, for a total transaction of $19,999,995.00.

Electra Therapeutics Price Performance

Shares of NASDAQ ETRA traded down $0.62 during midday trading on Thursday, hitting $7.35. The stock had a trading volume of 524,786 shares, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ETRA. TD Cowen initiated coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating for the company. Jefferies Financial Group initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 target price on the stock. HC Wainwright started coverage on shares of Electra Therapeutics in a research report on Monday, October 26th. They set a “buy” rating and a $30.00 price target for the company. Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Finally, Evercore started coverage on shares of Electra Therapeutics in a report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average 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.