Geode Capital Management LLC Boosts Stake in Idera Pharmaceuticals, Inc. (IDRA)

Geode Capital Management LLC increased its stake in Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 919,446 shares of the biotechnology company’s stock after buying an additional 51,942 shares during the period. Geode Capital Management LLC owned about 0.62% of Idera Pharmaceuticals worth $2,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. TFS Capital LLC bought a new position in shares of Idera Pharmaceuticals during the first quarter valued at about $109,000. American International Group Inc. raised its position in shares of Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 4,214 shares during the period. Nationwide Fund Advisors raised its position in shares of Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 4,235 shares during the period. Wells Fargo & Company MN raised its position in shares of Idera Pharmaceuticals by 5.8% in the first quarter. Wells Fargo & Company MN now owns 91,479 shares of the biotechnology company’s stock valued at $226,000 after buying an additional 5,000 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Idera Pharmaceuticals by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 154,886 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 14,205 shares during the period. Institutional investors own 31.37% of the company’s stock.

Shares of Idera Pharmaceuticals, Inc. (NASDAQ IDRA) traded up 0.56% on Friday, reaching $1.80. 317,827 shares of the company traded hands. The firm’s market capitalization is $269.34 million. Idera Pharmaceuticals, Inc. has a 1-year low of $1.30 and a 1-year high of $3.33. The stock has a 50-day moving average price of $1.83 and a 200 day moving average price of $1.90.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.03. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. Analysts anticipate that Idera Pharmaceuticals, Inc. will post ($0.49) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://sportsperspectives.com/2017/08/27/geode-capital-management-llc-boosts-stake-in-idera-pharmaceuticals-inc-idra.html.

Several brokerages recently issued reports on IDRA. ValuEngine lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $4.57.

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.

Institutional Ownership by Quarter for Idera Pharmaceuticals (NASDAQ:IDRA)

Receive News & Ratings for Idera Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply