UBS Group AG Sells 29,658 Shares of Idera Pharmaceuticals, Inc. (IDRA)
UBS Group AG cut its stake in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 40.0% during the first quarter, Holdings Channel reports. The firm owned 44,476 shares of the biotechnology company’s stock after selling 29,658 shares during the period. UBS Group AG’s holdings in Idera Pharmaceuticals were worth $110,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. 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 valued at $7,792,000 after buying an additional 642,762 shares during the period. Royce & Associates LP purchased a new stake in Idera Pharmaceuticals during the first quarter valued at about $1,147,000. Oxford Asset Management purchased a new stake in Idera Pharmaceuticals during the first quarter valued at about $743,000. Norges Bank purchased a new stake in Idera Pharmaceuticals during the fourth quarter valued at about $450,000. Finally, State Street Corp increased its stake in Idera Pharmaceuticals by 11.7% in the fourth quarter. State Street Corp now owns 1,553,323 shares of the biotechnology company’s stock valued at $2,330,000 after buying an additional 162,173 shares during the period. Institutional investors and hedge funds own 31.37% of the company’s stock.
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) traded up 1.404% during mid-day trading on Monday, hitting $1.805. The stock had a trading volume of 50,696 shares. Idera Pharmaceuticals, Inc. has a 12 month low of $1.30 and a 12 month high of $3.33. The firm’s 50-day moving average is $1.84 and its 200 day moving average is $1.88. The company’s market cap is $270.08 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The company had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. Equities analysts anticipate that Idera Pharmaceuticals, Inc. will post ($0.48) EPS for the current fiscal year.
Several analysts recently issued reports on IDRA shares. ValuEngine downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird started coverage on Idera Pharmaceuticals in a research note on Monday, April 24th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, BidaskClub downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $4.57.
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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