Insider Selling: Idera Pharmaceuticals Inc (IDRA) Major Shareholder Sells 166,893 Shares of Stock

Share on StockTwits

Idera Pharmaceuticals Inc (NASDAQ:IDRA) major shareholder Invest Corp Pillar sold 166,893 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $5.58, for a total value of $931,262.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Thursday, August 9th, Invest Corp Pillar sold 55,000 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $6.30, for a total value of $346,500.00.
  • On Friday, July 20th, Invest Corp Pillar sold 2,773,567 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $0.86, for a total value of $2,385,267.62.
  • On Friday, July 13th, Invest Corp Pillar sold 250,500 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $1.05, for a total value of $263,025.00.
  • On Tuesday, July 17th, Invest Corp Pillar sold 1,860,776 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $1.01, for a total value of $1,879,383.76.

Shares of NASDAQ:IDRA traded down $0.47 on Friday, hitting $8.80. 963,140 shares of the company’s stock were exchanged, compared to its average volume of 293,298. The stock has a market cap of $169.84 million, a P/E ratio of -2.62 and a beta of 1.34. Idera Pharmaceuticals Inc has a 1-year low of $5.20 and a 1-year high of $22.96.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.82) by $0.23. The business had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.18 million. Idera Pharmaceuticals had a negative return on equity of 74.17% and a negative net margin of 8,686.36%. research analysts forecast that Idera Pharmaceuticals Inc will post -2.63 EPS for the current fiscal year.

Several research firms recently commented on IDRA. JPMorgan Chase & Co. began coverage on Idera Pharmaceuticals in a research note on Wednesday. They set an “overweight” rating and a $15.00 target price for the company. Zacks Investment Research raised Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Thursday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Idera Pharmaceuticals in a research report on Monday, August 6th. ValuEngine raised Idera Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 30th. Finally, Wedbush lowered their price objective on Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.79.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new stake in shares of Idera Pharmaceuticals in the 4th quarter valued at about $155,000. Berson & Corrado Investment Advisors LLC boosted its position in shares of Idera Pharmaceuticals by 69.2% in the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 42,900 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Idera Pharmaceuticals in the 2nd quarter valued at about $179,000. New York State Common Retirement Fund boosted its position in shares of Idera Pharmaceuticals by 41.3% in the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 39,800 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Idera Pharmaceuticals by 20.3% in the 2nd quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 24,461 shares during the period.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Insider Buying and Selling by Quarter for Idera Pharmaceuticals (NASDAQ:IDRA)

Receive News & Ratings for Idera Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply