Idera Pharmaceuticals Inc (IDRA) Major Shareholder Sells $480,000.00 in Stock

Idera Pharmaceuticals Inc (NASDAQ:IDRA) major shareholder Invest Corp Pillar sold 200,000 shares of Idera Pharmaceuticals stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $2.40, for a total transaction of $480,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Invest Corp Pillar also recently made the following trade(s):

  • On Wednesday, December 13th, Invest Corp Pillar sold 1,100,000 shares of Idera Pharmaceuticals stock. The shares were sold at an average price of $1.93, for a total transaction of $2,123,000.00.
  • On Friday, December 15th, Invest Corp Pillar sold 2,300,000 shares of Idera Pharmaceuticals stock. The shares were sold at an average price of $1.96, for a total transaction of $4,508,000.00.

Idera Pharmaceuticals Inc (NASDAQ:IDRA) traded up $0.15 during trading hours on Friday, reaching $2.55. 2,021,726 shares of the company’s stock were exchanged, compared to its average volume of 1,512,508. The company has a market cap of $496.92, a price-to-earnings ratio of -7.50 and a beta of 2.19. Idera Pharmaceuticals Inc has a 1-year low of $1.30 and a 1-year high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative net margin of 313.78% and a negative return on equity of 60.80%. analysts predict that Idera Pharmaceuticals Inc will post -0.42 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its stake in shares of Idera Pharmaceuticals by 16.3% in the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 12,600 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Idera Pharmaceuticals by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 6,316 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Idera Pharmaceuticals in the fourth quarter worth approximately $177,000. Rhumbline Advisers grew its stake in shares of Idera Pharmaceuticals by 0.3% in the second quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 312 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of Idera Pharmaceuticals by 846.1% in the second quarter. GSA Capital Partners LLP now owns 180,588 shares of the biotechnology company’s stock worth $311,000 after acquiring an additional 161,500 shares during the period. Institutional investors and hedge funds own 24.14% of the company’s stock.

A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. HC Wainwright set a $4.00 price objective on shares of Idera Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Idera Pharmaceuticals has an average rating of “Buy” and an average target price of $4.83.

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About Idera Pharmaceuticals

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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