Idera Pharmaceuticals (NASDAQ:IDRA) Now Covered by Analysts at StockNews.com

Posted by on Jun 6th, 2022

StockNews.com began coverage on shares of Idera Pharmaceuticals (NASDAQ:IDRA – Get Rating) in a research note issued to investors on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

Shares of IDRA opened at $0.73 on Monday. Idera Pharmaceuticals has a one year low of $0.30 and a one year high of $1.71. The company has a 50-day simple moving average of $0.50 and a two-hundred day simple moving average of $0.55. The firm has a market capitalization of $38.67 million, a PE ratio of -1.74 and a beta of 1.50.

Idera Pharmaceuticals (NASDAQ:IDRA – Get Rating) last posted its earnings results on Thursday, May 5th. The biotechnology company reported ($0.08) EPS for the quarter.

Institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP grew its stake in shares of Idera Pharmaceuticals by 32.8% during the third quarter. Two Sigma Advisers LP now owns 795,871 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 196,400 shares during the last quarter. Acadian Asset Management LLC increased its stake in Idera Pharmaceuticals by 27.6% in the 4th quarter. Acadian Asset Management LLC now owns 506,381 shares of the biotechnology company’s stock worth $287,000 after buying an additional 109,462 shares during the period. Geode Capital Management LLC increased its position in Idera Pharmaceuticals by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 373,483 shares of the biotechnology company’s stock valued at $384,000 after purchasing an additional 52,633 shares during the period. Renaissance Technologies LLC purchased a new position in Idera Pharmaceuticals during the 3rd quarter valued at about $280,000. Finally, Two Sigma Investments LP increased its position in Idera Pharmaceuticals by 202.3% during the 3rd quarter. Two Sigma Investments LP now owns 265,850 shares of the biotechnology company’s stock valued at $274,000 after purchasing an additional 177,900 shares during the period. Hedge funds and other institutional investors own 12.18% of the company’s stock.

About Idera Pharmaceuticals (Get Rating)

Idera Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for rare disease indications in the United States. It offers Tilsotolimod (IMO-2125), a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, squamous cell carcinoma of the head and neck, and colorectal cancer.

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