Trading Report: The Julian Baker Acquires 3,250,000 Shares of Idera Pharmaceuticals Inc. (IDRA) Stock

The Julian Baker Acquires 3,250,000 Shares of Idera Pharmaceuticals Inc. (IDRA) Stock

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) Director Julian Baker bought 3,250,000 shares of the company’s stock in a transaction on Friday, October 7th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $6,500,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) opened at 1.92 on Thursday. The stock has a 50 day moving average of $2.20 and a 200-day moving average of $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 capitalization is $233.05 million.

Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, hitting the Zacks’ 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%. Analysts predict that Idera Pharmaceuticals Inc. will post ($0.45) earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock worth $102,000 after buying an additional 11,000 shares in the last quarter. Rhumbline Advisers increased its position in shares of Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock worth $135,000 after buying an additional 860 shares in the last quarter. Creative Planning increased its position 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 in the last quarter. California State Teachers Retirement System increased its position in shares of Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock worth $286,000 after buying an additional 3,478 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its position in shares of Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock worth $512,000 after buying an additional 22,791 shares in the last quarter. 28.44% of the stock is owned by institutional investors and hedge funds.

IDRA has been the topic of a number of recent analyst reports. S&P Equity Research raised their price target on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a report on Friday, October 7th. Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of Idera Pharmaceuticals in a report on Monday, September 26th.

About Idera Pharmaceuticals

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