Pillar Pharmaceuticals I, LP Maintains 19.9% Stake in Idera Pharmaceuticals Inc. (IDRA)
Pillar Pharmaceuticals I, LP revealed that they own 19.9% of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, October 17th. The investor owns 29,253,115 shares of the stock worth about $52,070,545. The reporting parties listed on the disclosure included Pillar Pharmaceuticals I, LP, Pillar Pharmaceuticals II, LP, Pillar Pharmaceuticals III, LP, Pillar Pharmaceuticals IV, LP, Pillar Pharmaceuticals V, LP, Pillar Invest Corporation and Youssef El Zein. The filing is available through EDGAR at this link.
Several other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised 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. State Street Corp raised its position in shares of 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 period. BlackRock Fund Advisors raised its position in shares of Idera Pharmaceuticals by 4.3% in the second quarter. BlackRock Fund Advisors now owns 2,332,615 shares of the company’s stock worth $3,569,000 after buying an additional 97,125 shares during the period. BlackRock Investment Management LLC raised its position in shares of Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock worth $512,000 after buying an additional 22,791 shares during the period. Finally, Creative Planning raised its position in shares of Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock worth $186,000 after buying an additional 12,800 shares during the period. 23.64% of the stock is owned by institutional investors and hedge funds.
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) opened at 1.78 on Monday. The firm’s market cap is $216.05 million. The company’s 50 day moving average is $2.19 and its 200 day moving average is $1.81. Idera Pharmaceuticals Inc. has a 12-month low of $1.19 and a 12-month high of $4.42.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its 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%. On average, equities analysts anticipate that Idera Pharmaceuticals Inc. will post ($0.45) earnings per share for the current year.
A number of equities analysts have weighed in on IDRA shares. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of Idera Pharmaceuticals in a report on Tuesday, August 2nd. 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 lifted their price target on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a report on Friday, October 7th.
In other Idera Pharmaceuticals news, Director Julian Baker bought 3,250,000 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $6,500,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 29.50% of the stock is currently owned by corporate insiders.
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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