Key Points
- OrbiMed Advisors bought 156,091 Electra Therapeutics shares on November 5 at an average $7.31 each, spending about $1.14 million. The purchase increased its reported stake by 3.08%, to 5.22 million shares.
- Electra shares were reported down 7.8% and opened at $7.35, near the stock’s 12-month low of $6.86.
- Analysts’ consensus rating is Buy, with an average price target of $33.50; ratings cited include five Buys, one Strong Buy, and one Hold.
Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) Director Orbimed Advisors Llc acquired 71,367 shares of the business's stock in a transaction on Wednesday, November 4th. The stock was purchased at an average cost of $7.53 per share, with a total value of $537,393.51. Following the acquisition, the director directly owned 5,189,871 shares of the company's stock, valued at $39,079,728.63. This represents a 1.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Orbimed Advisors Llc also recently made the following trade(s):
- On Thursday, November 5th, Orbimed Advisors Llc acquired 156,091 shares of Electra Therapeutics stock. The stock was purchased at an average price of $7.31 per share, with a total value of $1,141,025.21.
- On Tuesday, November 3rd, Orbimed Advisors Llc bought 245,113 shares of Electra Therapeutics stock. The shares were purchased at an average cost of $7.86 per share, for a total transaction of $1,926,588.18.
- On Monday, September 21st, Orbimed Advisors Llc bought 1,333,333 shares of Electra Therapeutics stock. The shares were acquired at an average price of $15.00 per share, for a total transaction of $19,999,995.00.
Electra Therapeutics Trading Down 7.8%
Shares of Electra Therapeutics stock opened at $7.35 on Friday. Electra Therapeutics, Inc. has a twelve month low of $6.86 and a twelve month high of $15.50.
Trending Headlines about Electra Therapeutics
Here are the key news stories impacting Electra Therapeutics this week:
- Positive Sentiment: Director Carl Gordon, associated with OrbiMed Advisors, reported purchases totaling 472,571 shares across November 3–5, worth approximately $3.6 million. The transactions increased his reported position, a sign of insider confidence. SEC filing
- Neutral Sentiment: Management plans to present at the Jefferies Global Healthcare Conference in London on November 18. The announcement provides an opportunity to discuss the company, but no new clinical or business developments were included. Conference announcement
Analysts Set New Price Targets
Several research firms have recently weighed in on ETRA. HC Wainwright assumed coverage on shares of Electra Therapeutics in a research note on Monday, October 26th. They issued a "buy" rating and a $30.00 price target on the stock. Zacks Research upgraded Electra Therapeutics to a "hold" rating in a report on Wednesday, October 14th. TD Cowen started coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They issued a "buy" rating for the company. JPMorgan Chase & Co. began coverage on Electra Therapeutics in a research report on Thursday, October 22nd. They issued an "overweight" rating and a $36.00 price target for the company. Finally, Evercore started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an "outperform" rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Electra Therapeutics presently has an average rating of "Buy" and a consensus price target of $33.50.
Get Our Latest Report on ETRA
About Electra Therapeutics
(
Get Free Report)
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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