Electra Therapeutics (NASDAQ:ETRA) Releases Quarterly Earnings Results, Misses Estimates By $1.71 EPS

Key Points

• Electra Therapeutics reported a quarterly loss of $3.47 per share, missing analyst expectations of a $1.76 loss by $1.71.
• Shares fell 3.6% to $9.11 on Thursday. The stock has traded between $6.86 and $15.50 over the past 52 weeks.
• Insiders bought 3.8 million shares worth about $48.7 million over the past 90 days; analysts maintain an average “Buy” rating with a $33.50 price target.

Electra Therapeutics (NASDAQ:ETRA - Get Free Report) issued its earnings results on Thursday. The company reported ($3.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.76) by ($1.71), Zacks reports.

Electra Therapeutics Trading Down 3.6%

Shares of NASDAQ ETRA traded down $0.34 during trading hours on Thursday, reaching $9.11. 545,248 shares of the stock were exchanged, compared to its average volume of 473,022. Electra Therapeutics has a 52 week low of $6.86 and a 52 week high of $15.50.

Insider Buying and Selling at Electra Therapeutics

In other news, Director Orbimed Advisors Llc acquired 22,700 shares of the stock in a transaction on 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 transaction, the director directly owned 5,255,278 shares of the company's stock, valued at approximately $44,407,099.10. This represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl L. Gordon acquired 22,700 shares of the stock in a transaction on 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 transaction, the director directly owned 5,255,278 shares in the company, valued at approximately $44,407,099.10. This trade represents a 0.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 3,796,040 shares of company stock valued at $48,699,065 over the last 90 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ETRA shares. Evercore assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set an "outperform" rating and a $36.00 price target for the company. HC Wainwright started coverage on Electra Therapeutics in a research note on Monday, October 26th. They issued a "buy" rating and a $30.00 price objective on the stock. Zacks Research raised Electra Therapeutics to a "hold" rating in a research report on Wednesday, October 14th. Jefferies Financial Group began 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. Finally, Wall Street Zen raised shares of Electra Therapeutics to a "hold" rating in a research report on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Electra Therapeutics 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 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.

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