Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Carl Gordon Buys 245,113 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon purchased 245,113 shares of the stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average price of $7.86 per share, for a total transaction of $1,926,588.18. Following the transaction, the director directly owned 5,175,604 shares of the company’s stock, valued at approximately $40,680,247.44. This represents a 4.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Electra Therapeutics Stock Down 7.8%

ETRA stock traded down $0.62 during mid-day trading on Thursday, hitting $7.35. 524,786 shares of the stock were exchanged, compared to its average volume of 481,923. Electra Therapeutics, Inc. has a 12 month low of $6.86 and a 12 month high of $15.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ETRA shares. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a report on Saturday, September 26th. Cantor Fitzgerald assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating for the company. HC Wainwright initiated 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 on the stock. Zacks Research raised shares of Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Electra Therapeutics in a research note on Thursday, October 22nd. They set an “overweight” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Electra Therapeutics presently has a consensus 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 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.