Julian Baker Buys 3,250,000 Shares of Idera Pharmaceuticals Inc. (IDRA) Stock
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) Director Julian Baker bought 3,250,000 shares of Idera Pharmaceuticals stock in a transaction on Friday, October 7th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $6,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) traded down 7.18% during midday trading on Tuesday, hitting $1.81. 1,847,852 shares of the company’s stock were exchanged. Idera Pharmaceuticals Inc. has a 1-year low of $1.19 and a 1-year high of $4.42. The stock’s 50 day moving average is $2.20 and its 200-day moving average is $1.81. The stock’s market cap is $219.69 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Idera Pharmaceuticals had a negative net margin of 6,169.32% and a negative return on equity of 64.09%. Analysts predict that Idera Pharmaceuticals Inc. will post ($0.45) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Idera Pharmaceuticals by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 3,349,700 shares of the company’s stock worth $6,632,000 after buying an additional 187,625 shares during the period. Geode Capital Management LLC increased its stake in Idera Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 680,280 shares of the company’s stock worth $1,346,000 after buying an additional 4,263 shares during the last quarter. State Street Corp increased its stake in Idera Pharmaceuticals by 10.7% in the second quarter. State Street Corp now owns 1,332,201 shares of the company’s stock worth $2,041,000 after buying an additional 129,033 shares during the last quarter. Rhumbline Advisers increased its stake in Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock worth $135,000 after buying an additional 860 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock worth $102,000 after buying an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 28.44% of the company’s stock.
IDRA has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and set a $6.00 target price on shares of Idera Pharmaceuticals in a report on Monday, September 26th. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, S&P Equity Research increased their target price on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a report on Friday.
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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