Insider Buying: Electra Therapeutics (NASDAQ:ETRA) Director Buys $19,999,995.00 in Stock

Key Points

  • Orbimed Advisors, a director of Electra Therapeutics, purchased 1,333,333 shares at $15.00 each, investing approximately $20 million.
  • The transaction increased Orbimed Advisors’ direct ownership by 35.15% to 5,126,891 shares, valued at about $76.9 million after the purchase.
  • ETRA shares opened at $12.67, near their 52-week low of $12.50 and below the 52-week high of $15.50. Electra is a late clinical-stage biopharmaceutical company developing treatments for immune-mediated diseases and cancer.

Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) 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 bought at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the purchase, the director directly owned 5,126,891 shares in the company, valued at $76,903,365. The trade was a 35.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Electra Therapeutics Price Performance

Shares of ETRA stock opened at $12.67 on Thursday. Electra Therapeutics, Inc. has a 1-year low of $12.50 and a 1-year high of $15.50.

About Electra Therapeutics

(Get Free Report)

Electra Therapeutics Inc is a late clinical-stage biopharmaceutical company focused on pioneering a new class of precision medicines for the treatment of immune-mediated diseases and cancer. The company's lead product candidate includes ipsoprubart. Electra Therapeutics Inc is based in SOUTH SAN FRANCISCO, Calif.

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