Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Buys $191,815.00 in Stock

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon acquired 22,700 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were purchased at an average price of $8.45 per share, for a total transaction of $191,815.00. Following the purchase, the director directly owned 5,255,278 shares of the company’s stock, valued at approximately $44,407,099.10. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Electra Therapeutics Price Performance

NASDAQ ETRA opened at $9.11 on Friday. Electra Therapeutics, Inc. has a 52 week low of $6.86 and a 52 week high of $15.50.

Electra Therapeutics (NASDAQ:ETRA) last announced its earnings results on Thursday, November 12th. The company reported ($3.47) earnings per share for the quarter, missing the consensus estimate of ($1.76) by ($1.71). As a group, research analysts forecast that Electra Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Electra Therapeutics in a report on Tuesday, October 13th. They issued a “buy” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Electra Therapeutics in a research note on Thursday, October 22nd. They set an “overweight” rating and a $36.00 target price for the company. TD Cowen began coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set a “buy” rating on the stock. HC Wainwright assumed coverage on Electra Therapeutics in a research report on Monday, October 26th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Evercore assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price target on the stock. 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. According to data from MarketBeat, Electra Therapeutics presently has an average 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.