Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) rose 5.3% during mid-day trading on Tuesday . The company traded as high as $2.42 and last traded at $2.39, approximately 163,817 shares were traded during trading. A decline of 51% from the average daily volume of 331,726 shares. The stock had previously closed at $2.27.
Several equities analysts recently issued reports on IDRA shares. Zacks Investment Research downgraded Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Wedbush reaffirmed an “outperform” rating on shares of Idera Pharmaceuticals in a research note on Friday, May 3rd. Finally, ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.65.
The firm’s 50 day moving average is $2.55. The stock has a market capitalization of $66.97 million, a price-to-earnings ratio of -1.05 and a beta of 2.45.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Idera Pharmaceuticals by 1.3% in the 4th quarter. BlackRock Inc. now owns 1,478,231 shares of the biotechnology company’s stock worth $4,094,000 after buying an additional 19,046 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Idera Pharmaceuticals in the 4th quarter worth approximately $61,000. Geode Capital Management LLC grew its stake in shares of Idera Pharmaceuticals by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 230,577 shares of the biotechnology company’s stock worth $638,000 after purchasing an additional 8,468 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Idera Pharmaceuticals by 22.7% in the 4th quarter. Two Sigma Advisers LP now owns 29,607 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 5,475 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Idera Pharmaceuticals by 22.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 53,880 shares of the biotechnology company’s stock worth $149,000 after buying an additional 9,952 shares during the period. Institutional investors own 42.91% of the company’s stock.
Idera Pharmaceuticals Company Profile (NASDAQ:IDRA)
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology in the United States. It offers Tilsotolimod, a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, metastatic melanoma, squamous cell carcinoma, and colorectal cancer.
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