Dimensional Fund Advisors LP purchased a new position in shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,099 shares of the biotechnology company’s stock, valued at approximately $61,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citigroup Inc. lifted its stake in Idera Pharmaceuticals by 11.9% during the fourth quarter. Citigroup Inc. now owns 46,819 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 4,971 shares during the period. Marshall Wace North America L.P. bought a new position in Idera Pharmaceuticals during the third quarter worth about $96,000. Virtu Financial LLC bought a new position in shares of Idera Pharmaceuticals in the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC bought a new position in shares of Idera Pharmaceuticals in the third quarter valued at approximately $132,000. Finally, SG Americas Securities LLC bought a new position in shares of Idera Pharmaceuticals in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 44.56% of the company’s stock.
NASDAQ:IDRA opened at $3.97 on Tuesday. Idera Pharmaceuticals Inc has a 1 year low of $2.25 and a 1 year high of $17.12. The company has a market capitalization of $100.03 million, a PE ratio of -1.74 and a beta of 2.59.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.06. Idera Pharmaceuticals had a negative net margin of 9,045.47% and a negative return on equity of 68.98%. On average, sell-side analysts forecast that Idera Pharmaceuticals Inc will post -1.89 EPS for the current fiscal year.
A number of research analysts have recently issued reports on IDRA shares. HC Wainwright cut their target price on shares of Idera Pharmaceuticals to $14.00 and set a “buy” rating for the company in a research note on Friday, March 8th. Wedbush set a $7.00 target price on shares of Idera Pharmaceuticals and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.71.
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Idera Pharmaceuticals Profile
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.
Further Reading: What does RSI mean?
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