Key Points
- OrbiMed Advisors bought 49,416 Electra Therapeutics shares on November 6 at an average price of $7.85, spending about $387,916. It owned 5,230,578 shares after the purchase, and the article also notes additional recent buying.
- Analyst sentiment is broadly positive: MarketBeat reports an average “Buy” rating and a consensus price target of $33.50, with listed targets ranging from $30 to $36.
- Electra shares opened at $7.99 and were reported down 2.8%; the stock’s 52-week range was $6.86 to $15.50.
Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) Director Orbimed Advisors Llc bought 49,416 shares of Electra Therapeutics stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $7.85 per share, with a total value of $387,915.60. Following the completion of the purchase, the director owned 5,230,578 shares in the company, valued at approximately $41,060,037.30. This trade represents a 0.95% 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.
Orbimed Advisors Llc also recently made the following trade(s):
- On Tuesday, November 10th, Orbimed Advisors Llc bought 22,700 shares of Electra Therapeutics stock. The shares were acquired at an average price of $8.45 per share, for a total transaction of $191,815.00.
- On Monday, November 9th, Orbimed Advisors Llc purchased 20,000 shares of Electra Therapeutics stock. The stock was bought at an average cost of $8.24 per share, for a total transaction of $164,800.00.
- On Thursday, November 5th, Orbimed Advisors Llc purchased 156,091 shares of Electra Therapeutics stock. The stock was bought at an average cost of $7.31 per share, for a total transaction of $1,141,025.21.
- On Wednesday, November 4th, Orbimed Advisors Llc purchased 71,367 shares of Electra Therapeutics stock. The stock was bought at an average cost of $7.53 per share, with a total value of $537,393.51.
- On Tuesday, November 3rd, Orbimed Advisors Llc purchased 245,113 shares of Electra Therapeutics stock. The stock was bought at an average cost of $7.86 per share, with a total value of $1,926,588.18.
- On Monday, September 21st, Orbimed Advisors Llc acquired 1,333,333 shares of Electra Therapeutics stock. The shares were bought at an average price of $15.00 per share, with a total value of $19,999,995.00.
Electra Therapeutics Stock Down 2.8%
NASDAQ:ETRA opened at $7.99 on Wednesday. Electra Therapeutics, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $15.50.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ETRA. TD Cowen initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued a "buy" rating on the stock. Wall Street Zen raised Electra Therapeutics to a "hold" rating in a report on Saturday, September 26th. Jefferies Financial Group started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a "buy" rating and a $32.00 target price for the company. Evercore started coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They issued an "outperform" rating and a $36.00 target price on the stock. Finally, HC Wainwright assumed coverage on Electra Therapeutics in a research note on Monday, October 26th. They issued a "buy" rating and a $30.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $33.50.
Check Out Our Latest Stock Report on Electra Therapeutics
Key Stories Impacting Electra Therapeutics
Here are the key news stories impacting Electra Therapeutics this week:
- Positive Sentiment: Director Carl Gordon, through OrbiMed Advisors, reported purchases totaling 92,116 shares across November 6, 9 and 10, at prices ranging from $7.85 to $8.45 per share. Repeated buying by a director may signal confidence in the company, although it does not guarantee future performance. SEC ownership filing
- Neutral Sentiment: A report said short interest stood at zero shares as of November 10, with zero days to cover. That figure does not indicate meaningful reported short positioning, but it conflicts with the report’s description of a “significant increase,” making the short-interest update difficult to interpret.
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.
Further Reading
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