California State Teachers Retirement System Has $286,000 Position in Idera Pharmaceuticals Inc. (IDRA)
California State Teachers Retirement System boosted its stake in shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,693 shares of the company’s stock after buying an additional 3,478 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Idera Pharmaceuticals worth $286,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IDRA. Creative Planning boosted its stake 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. Geode Capital Management LLC boosted its stake in shares of 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 period. Finally, JPMorgan Chase & Co. boosted 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. Institutional investors and hedge funds own 23.64% of the company’s stock.
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) traded up 0.57% during mid-day trading on Tuesday, hitting $1.75. 385,915 shares of the company were exchanged. The stock’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. The company’s market cap is $212.41 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Idera Pharmaceuticals had a negative return on equity of 64.09% and a negative net margin of 6,169.32%. Equities research analysts predict that Idera Pharmaceuticals Inc. will post ($0.45) EPS for the current year.
A number of analysts have weighed in on the stock. S&P Equity Research increased their target price on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a report on Friday, October 7th. Wedbush reissued an “outperform” rating and set a $6.00 target price on shares of Idera Pharmaceuticals in a report on Monday, September 26th. Finally, Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.
In related news, Director Julian Baker purchased 3,250,000 shares of the stock in a transaction on Friday, October 7th. The shares were bought at an average price of $2.00 per share, for a total transaction of $6,500,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 29.50% of the company’s stock.
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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