Alps Advisors Inc. Takes Position in Idera Pharmaceuticals, Inc. (IDRA)
Alps Advisors Inc. purchased a new position in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 134,625 shares of the biotechnology company’s stock, valued at approximately $232,000. Alps Advisors Inc. owned about 0.09% of Idera Pharmaceuticals as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of IDRA. KCG Holdings Inc. increased its stake in Idera Pharmaceuticals by 70.8% in the first quarter. KCG Holdings Inc. now owns 143,471 shares of the biotechnology company’s stock worth $354,000 after buying an additional 59,452 shares during the period. Geode Capital Management LLC increased its stake in Idera Pharmaceuticals by 6.0% in the first quarter. Geode Capital Management LLC now owns 919,446 shares of the biotechnology company’s stock worth $2,271,000 after buying an additional 51,942 shares during the period. Vanguard Group Inc. increased its stake in Idera Pharmaceuticals by 3.3% in the first quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock worth $12,368,000 after buying an additional 159,828 shares during the period. Royce & Associates LP acquired a new stake in Idera Pharmaceuticals during the first quarter worth $1,147,000. Finally, FMR LLC increased its stake in Idera Pharmaceuticals by 25.6% in the first quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock worth $7,792,000 after buying an additional 642,762 shares during the period. Hedge funds and other institutional investors own 30.96% of the company’s stock.
Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) opened at 1.97 on Thursday. The company has a 50 day moving average price of $1.83 and a 200-day moving average price of $1.90. The stock’s market capitalization is $294.77 million. Idera Pharmaceuticals, Inc. has a 1-year low of $1.30 and a 1-year high of $3.33.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. Idera Pharmaceuticals had a negative return on equity of 61.09% and a negative net margin of 300.63%. The business had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.20 million. On average, equities research analysts forecast that Idera Pharmaceuticals, Inc. will post ($0.49) EPS for the current fiscal year.
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A number of analysts recently weighed in on the company. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.57.
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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