Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Sees Large Decrease in Short Interest

Share on StockTwits

Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 198,000 shares, a decline of 57.3% from the December 15th total of 463,400 shares. Based on an average trading volume of 345,600 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.8% of the shares of the company are sold short.

Shares of IDRA traded down $0.06 during midday trading on Thursday, hitting $4.21. 106 shares of the company traded hands, compared to its average volume of 223,130. The firm has a 50 day moving average of $4.30 and a 200-day moving average of $2.81. Idera Pharmaceuticals has a 52 week low of $0.81 and a 52 week high of $5.50. The stock has a market cap of $148.41 million, a price-to-earnings ratio of -1.50 and a beta of 2.48.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its quarterly earnings data on Thursday, October 29th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.37). On average, equities analysts anticipate that Idera Pharmaceuticals will post -1.14 EPS for the current year.

A number of analysts recently commented on IDRA shares. ValuEngine downgraded Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Zacks Investment Research lowered Idera Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday.

In other news, CEO Vincent Milano sold 37,169 shares of the business’s stock in a transaction on Tuesday, December 22nd. The stock was sold at an average price of $4.32, for a total transaction of $160,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Invest Corp Pillar purchased 69,941 shares of the stock in a transaction dated Friday, December 11th. The shares were acquired at an average cost of $1.82 per share, with a total value of $127,292.62. The disclosure for this purchase can be found here. Insiders have sold a total of 50,595 shares of company stock valued at $215,515 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Idera Pharmaceuticals stock. Hollencrest Capital Management increased its holdings in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 317.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the biotechnology company’s stock after purchasing an additional 68,429 shares during the period. Hollencrest Capital Management owned approximately 0.26% of Idera Pharmaceuticals worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 24.60% of the company’s stock.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology and 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, metastatic melanoma, squamous cell carcinoma of the head and neck, and colorectal cancer.

Further Reading: What is meant by buying and selling pressure?

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