Invest Corp Pillar Sells 55,000 Shares of Idera Pharmaceuticals Inc (IDRA) Stock

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Idera Pharmaceuticals Inc (NASDAQ:IDRA) major shareholder Invest Corp Pillar sold 55,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $6.30, for a total value of $346,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 Tuesday, August 7th, Invest Corp Pillar sold 166,893 shares of Idera Pharmaceuticals stock. The stock was sold at an average price of $5.58, for a total value of $931,262.94.
  • 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 IDRA stock traded down $0.47 during trading hours on Friday, reaching $8.80. 963,140 shares of the company traded hands, compared to its average volume of 293,298. Idera Pharmaceuticals Inc has a 12-month low of $5.20 and a 12-month high of $22.96. 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 (NASDAQ:IDRA) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.82) by $0.23. Idera Pharmaceuticals had a negative return on equity of 74.17% and a negative net margin of 8,686.36%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.18 million. equities analysts forecast that Idera Pharmaceuticals Inc will post -2.63 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its position in shares of Idera Pharmaceuticals by 58.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 431,401 shares of the biotechnology company’s stock valued at $910,000 after buying an additional 159,986 shares in the last quarter. Artal Group S.A. purchased a new position in shares of Idera Pharmaceuticals during the 1st quarter valued at about $5,060,000. New York State Common Retirement Fund lifted its position in shares of Idera Pharmaceuticals by 41.3% during 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 buying an additional 39,800 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Idera Pharmaceuticals by 29.7% during the 4th quarter. Teachers Advisors LLC now owns 263,412 shares of the biotechnology company’s stock valued at $556,000 after buying an additional 60,355 shares in the last quarter. Finally, Bluefin Trading LLC purchased a new position in shares of Idera Pharmaceuticals during the 1st quarter valued at about $329,000.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Idera Pharmaceuticals in a research report on Wednesday. They issued an “overweight” rating and a $15.00 target price on the stock. Zacks Investment Research raised Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Thursday, August 9th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price 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 dropped their target price on Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Idera Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $22.79.

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.

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