Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Orbimed Advisors Llc Acquires 49,416 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Orbimed Advisors Llc bought 49,416 shares of the stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $7.85 per share, for a total transaction of $387,915.60. Following the completion of the purchase, the director owned 5,230,578 shares of the company’s stock, valued at approximately $41,060,037.30. This trade represents a 0.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 acquired at an average price of $8.45 per share, with a total value of $191,815.00.
• On Monday, November 9th, Orbimed Advisors Llc purchased 20,000 shares of Electra Therapeutics stock. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $164,800.00.
• On Thursday, November 5th, Orbimed Advisors Llc bought 156,091 shares of Electra Therapeutics stock. The shares were acquired 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 acquired 71,367 shares of Electra Therapeutics stock. The shares were bought at an average price of $7.53 per share, for a total transaction of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc bought 245,113 shares of Electra Therapeutics stock. The stock was bought 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 purchased 1,333,333 shares of Electra Therapeutics stock. The shares were bought at an average price of $15.00 per share, for a total transaction of $19,999,995.00.

Electra Therapeutics Price Performance

ETRA stock opened at $9.45 on Thursday. Electra Therapeutics, Inc. has a 12 month low of $6.86 and a 12 month high of $15.50.

Electra Therapeutics News Summary

These are some of the ETRA news items that stood out recently:

• 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 Analysts Forecast Growth

A number of equities research analysts recently weighed in on ETRA shares. TD Cowen assumed coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. HC Wainwright initiated coverage on Electra Therapeutics in a research note on Monday, October 26th. They set a “buy” rating and a $30.00 price target for the company. Cantor Fitzgerald assumed coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.