Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Orbimed Advisors Llc Purchases 22,700 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc purchased 22,700 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was bought at an average cost of $8.45 per share, for a total transaction of $191,815.00. Following the completion of the purchase, the director directly owned 5,255,278 shares of the company’s stock, valued at $44,407,099.10. The trade was a 0.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 9th, Orbimed Advisors Llc acquired 20,000 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $8.24 per share, with a total value of $164,800.00.
• On Friday, November 6th, Orbimed Advisors Llc bought 49,416 shares of Electra Therapeutics stock. The stock was purchased at an average price of $7.85 per share, for a total transaction of $387,915.60.
• On Thursday, November 5th, Orbimed Advisors Llc bought 156,091 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $7.31 per share, for a total transaction of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc bought 71,367 shares of Electra Therapeutics stock. The stock was purchased at an average cost of $7.53 per share, for a total transaction of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc purchased 245,113 shares of Electra Therapeutics stock. The shares were purchased at an average cost 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 acquired at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Stock Down 2.8%

Shares of ETRA stock traded down $0.23 on Tuesday, hitting $7.99. The company’s stock had a trading volume of 298,185 shares, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.

Wall Street Analyst Weigh In

ETRA has been the topic of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Electra Therapeutics in a research note on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 target price on the stock. Evercore initiated coverage on shares of Electra Therapeutics in a research report on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price target for the company. Wall Street Zen upgraded shares of Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Finally, TD Cowen began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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 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.