Electra Therapeutics’ (NASDAQ:ETRA – Get Free Report) quiet period will end on Wednesday, October 28th. Electra Therapeutics had issued 23,333,334 shares in its public offering on September 18th. The total size of the offering was $350,000,010 based on an initial share price of $15.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Electra Therapeutics in a research note on Thursday, October 22nd. They set an “overweight” rating and a $36.00 price objective on the stock. Cantor Fitzgerald started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued an “overweight” rating on the stock. TD Cowen assumed coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating for the company. Finally, Evercore started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set an “outperform” rating and a $36.00 target price for the company. One 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, Electra Therapeutics presently has an average rating of “Buy” and an average target price of $33.50.
Electra Therapeutics Stock Performance
Shares of Electra Therapeutics stock opened at $8.37 on Tuesday. Electra Therapeutics has a 52-week low of $8.26 and a 52-week high of $15.50.
Insider Buying and Selling at Electra Therapeutics
In other news, Director Orbimed Advisors Llc acquired 1,333,333 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the completion of the transaction, the director owned 5,126,891 shares of the company’s stock, valued at $76,903,365. The trade was a 35.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl L. Gordon acquired 1,333,333 shares of the stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the purchase, the director owned 5,126,891 shares of the company’s stock, valued at approximately $76,903,365. The trade was a 35.15% increase in their position. The disclosure for this purchase is available in the SEC filing.
About Electra Therapeutics
Electra Therapeutics, Inc (NASDAQ: ETRA) is a clinical-stage biopharmaceutical company focused on developing therapies that modulate the immune system. The company’s research is directed toward selectively influencing immune-cell activity to address serious diseases, including cancer and autoimmune conditions.
Electra Therapeutics is advancing a pipeline of investigational medicines based on its immune-cell modulation approach. Its programs are intended to improve the body’s ability to recognize, control, or eliminate disease-associated cells while limiting effects on healthy tissue.
Further Reading
- Five stocks we like better than Electra Therapeutics
- Comfort Systems Earnings: AI Slowdown or More Growth Ahead?
- Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock
- 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps
- Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
Receive News & Ratings for Electra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
