Bros. Advisors Lp Baker Purchases 8,000,000 Shares of Idera Pharmaceuticals, Inc. (IDRA) Stock
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Director Bros. Advisors Lp Baker bought 8,000,000 shares of Idera Pharmaceuticals stock in a transaction dated Thursday, October 26th. The shares were bought at an average cost of $1.50 per share, with a total value of $12,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) traded up 3.21% during midday trading on Monday, reaching $1.61. The company had a trading volume of 7,815,472 shares. The company’s 50-day moving average is $2.26 and its 200-day moving average is $1.97. The firm’s market cap is $240.91 million. Idera Pharmaceuticals, Inc. has a 52-week low of $1.30 and a 52-week high of $2.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million. Equities research analysts expect that Idera Pharmaceuticals, Inc. will post ($0.48) EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL grew its stake in Idera Pharmaceuticals by 48.8% in the first quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 13,572 shares during the period. American International Group Inc. grew its stake in Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 4,214 shares during the period. Nationwide Fund Advisors grew its stake in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 4,235 shares during the period. State of Wisconsin Investment Board acquired a new position in Idera Pharmaceuticals in the second quarter valued at about $136,000. Finally, Jane Street Group LLC acquired a new position in Idera Pharmaceuticals in the first quarter valued at about $222,000. 30.93% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on IDRA. BidaskClub downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Zacks Investment Research downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. ValuEngine downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $4.00 price objective on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.75.
Idera Pharmaceuticals Company Profile
Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company utilizes two drug discovery technology platforms to design and develop drug candidates, which include Toll-like receptor (TLR) targeting technology and third-generation antisense (3GA) technology.
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