Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Acquires 49,416 Shares of Stock

Key Points

• Director Orbimed Advisors bought 49,416 ETRA shares at an average $7.85, spending about $387,916. The purchase increased its position by 0.95% to 5,230,578 shares.
• Orbimed also reported several other recent purchases, including 245,113 shares on November 3 and 156,091 shares on November 5.
• Analysts give ETRA a consensus Buy rating and a $33.50 average price target. Shares traded at $7.99, within a 52-week range of $6.86 to $15.50.

Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) Director Orbimed Advisors Llc purchased 49,416 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $387,915.60. Following the purchase, the director directly owned 5,230,578 shares in the company, valued at $41,060,037.30. This represents a 0.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 10th, Orbimed Advisors Llc acquired 22,700 shares of Electra Therapeutics stock. The shares were bought at an average price of $8.45 per share, for a total transaction of $191,815.00.
• On Monday, November 9th, Orbimed Advisors Llc acquired 20,000 shares of Electra Therapeutics stock. The shares were bought at an average price of $8.24 per share, for a total transaction of $164,800.00.
• On Thursday, November 5th, Orbimed Advisors Llc acquired 156,091 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21.
• On Wednesday, November 4th, Orbimed Advisors Llc acquired 71,367 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.53 per share, with a total value of $537,393.51.
• On Tuesday, November 3rd, Orbimed Advisors Llc bought 245,113 shares of Electra Therapeutics stock. The stock was purchased 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 bought 1,333,333 shares of Electra Therapeutics stock. The stock was purchased at an average price of $15.00 per share, with a total value of $19,999,995.00.

Electra Therapeutics Price Performance

Shares of Electra Therapeutics stock traded down $0.23 during trading on Tuesday, hitting $7.99. The stock had a trading volume of 298,185 shares, compared to its average volume of 376,388. Electra Therapeutics, Inc. has a 1 year low of $6.86 and a 1 year high of $15.50.

Wall Street Analysts Forecast Growth

ETRA has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Electra Therapeutics to a "hold" rating in a research note on Saturday, September 26th. TD Cowen began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set a "buy" rating on the stock. Cantor Fitzgerald began coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They set an "overweight" rating on the stock. Evercore initiated coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an "outperform" rating and a $36.00 target price for the company. Finally, HC Wainwright initiated coverage on Electra Therapeutics in a research report on Monday, October 26th. They issued a "buy" rating and a $30.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.