Invest Corp Pillar Sells 2,300,000 Shares of Idera Pharmaceuticals, Inc. (IDRA) Stock
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) major shareholder Invest Corp Pillar sold 2,300,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $1.96, for a total value of $4,508,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock 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 value of $2,123,000.00.
Shares of Idera Pharmaceuticals, Inc. (IDRA) opened at $1.87 on Friday. Idera Pharmaceuticals, Inc. has a twelve month low of $1.30 and a twelve month high of $2.87.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Idera Pharmaceuticals had a negative return on equity of 60.80% and a negative net margin of 313.78%. The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.20 million. equities analysts forecast that Idera Pharmaceuticals, Inc. will post -0.42 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. State of Wisconsin Investment Board acquired a new stake in Idera Pharmaceuticals during the 2nd quarter valued at $136,000. Alliancebernstein L.P. lifted its holdings in Idera Pharmaceuticals by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 12,600 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Idera Pharmaceuticals by 3.0% during the 2nd quarter. Wedbush Securities Inc. now owns 93,428 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 2,700 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Idera Pharmaceuticals by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,976 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 6,316 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Idera Pharmaceuticals by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 312 shares during the last quarter. 24.18% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on IDRA. Zacks Investment Research raised Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Thursday, November 9th. BidaskClub downgraded Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Piper Jaffray Companies reissued a “buy” rating and issued a $4.00 price objective on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. Finally, HC Wainwright set a $4.00 price objective on Idera Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Idera Pharmaceuticals presently has a consensus rating of “Buy” and an average price target 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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