Electra Therapeutics, Inc.’s Quiet Period Set To End on October 28th (NASDAQ:ETRA)

by · The Markets Daily

Electra Therapeutics’ (NASDAQ:ETRA – Get Free Report) quiet period is set to 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 Electra Therapeutics’ quiet period, insiders and underwriters that worked on the IPO are restricted 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

ETRA has been the topic of a number of research reports. 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. Zacks Research raised Electra Therapeutics to a “hold” rating in a research report on Wednesday, October 14th. Jefferies Financial Group started coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $32.00 target price on the stock. Evercore started coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Electra Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $36.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.67.

Check Out Our Latest Stock Analysis on Electra Therapeutics

Electra Therapeutics Price Performance

NASDAQ:ETRA opened at $9.25 on Friday. Electra Therapeutics has a 52 week low of $8.50 and a 52 week high of $15.50.

Insider Buying and Selling

In other Electra Therapeutics news, Director Orbimed Advisors Llc purchased 1,333,333 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were bought at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the purchase, the director directly owned 5,126,891 shares in the company, valued at $76,903,365. This trade represents a 35.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carl L. Gordon purchased 1,333,333 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the purchase, the director 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 disclosure for this purchase is available in the SEC filing.

About Electra Therapeutics

(Get Free Report)

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.

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