Electra Therapeutics, Inc. (NASDAQ:ETRA) Stock Short Interest Report for September

Key Points

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Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 702,266 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 909,492 shares, the short-interest ratio is presently 0.8 days.

Electra Therapeutics Stock Up 6.7%

Shares of Electra Therapeutics stock traded up $0.58 during mid-day trading on Wednesday, hitting $9.19. 353,135 shares of the stock were exchanged, compared to its average volume of 588,338. Electra Therapeutics has a twelve month low of $8.50 and a twelve month high of $15.50.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETRA. Jefferies Financial Group began coverage on Electra Therapeutics in a research note on Tuesday. They set a "buy" rating and a $32.00 price target on the stock. Cantor Fitzgerald assumed coverage on Electra Therapeutics in a research note on Tuesday. They issued an "overweight" rating for the company. Wall Street Zen raised Electra Therapeutics to a "hold" rating in a report on Saturday, September 26th. TD Cowen began coverage on Electra Therapeutics in a report on Tuesday. They set a "buy" rating for the company. Finally, Evercore initiated coverage on Electra Therapeutics in a research report on Tuesday. They set an "outperform" rating and a $36.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Strong Buy" and an average target price of $34.00.

Insider Buying and Selling at Electra Therapeutics

In related news, Director Orbimed Advisors Llc acquired 1,333,333 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were purchased at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the acquisition, the director owned 5,126,891 shares in the company, valued at approximately $76,903,365. This represents a 35.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl L. Gordon acquired 1,333,333 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average cost of $15.00 per share, for a total transaction of $19,999,995.00. Following the acquisition, the director owned 5,126,891 shares of the company's stock, valued at $76,903,365. This represents a 35.15% increase in their position. The SEC filing for this purchase provides additional information.

About Electra Therapeutics

Electra Therapeutics, Inc is a clinical-stage biopharmaceutical company developing therapies for severe immune-mediated diseases. The company is focused on creating treatments designed to selectively remove disease-causing immune cells while preserving healthy immune cells.

Electra's lead product candidate, ELA026, is an investigational antibody being developed for conditions involving harmful immune-cell activity. The company is evaluating the candidate in clinical studies for diseases including systemic sclerosis and immune thrombocytopenia.

Electra Therapeutics is headquartered in the United States and is focused primarily on advancing its pipeline through clinical development.

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