Electra Therapeutics (NASDAQ:ETRA) Stock: Insider Carl Gordon Acquires 49,416 Shares

Electra Therapeutics, Inc. (NASDAQ:ETRA) Director Carl Gordon acquired 49,416 shares of Electra Therapeutics stock in a transaction on Friday, November 6th. The shares were purchased at an average price of $7.85 per share, for a total transaction of $387,915.60. Following the completion of the purchase, the director directly owned 5,230,578 shares of the company’s stock, valued at approximately $41,060,037.30. This represents a 0.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Electra Therapeutics Price Performance

ETRA stock traded down $0.23 during mid-day 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 52 week low of $6.86 and a 52 week high of $15.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore initiated coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 price objective on the stock. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. assumed coverage on Electra Therapeutics in a report on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 target price on the stock. Cantor Fitzgerald assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “overweight” rating on the stock. Finally, Jefferies Financial Group began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Electra Therapeutics currently has an average rating of “Buy” and a consensus price target 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.