Idera Pharmaceuticals (IDRA) has risen sharply, recording gains of 18.56% in the past 4 weeks. However, the stock has corrected -0.5% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 18.11% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Idera Pharmaceuticals, Inc. is up 33.78% in the last 3-month period. Year-to-Date the stock performance stands at -35.92%. The stock has recorded a 20-day Moving Average of 7.93% and the 50-Day Moving Average is 18.71%.
Idera Pharmaceuticals (NASDAQ:IDRA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.94 and $1.91 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.98, notching a gain of 1.54% for the day. The total traded volume was 447,484 . The stock had closed at $1.95 on the previous day.
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 uses two drug discovery technology platforms to design and develop drug candidates. Using its Toll-like receptor (TLR) targeting technology, the Company designs synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. Using its gene silencing oligonucleotide (GSO) technology, the Company is developing GSOs to turn off the messenger RNA (mRNA) associated with disease causing genes. The Companys drug candidates include IMO-8400 for Waldenstroms macroglobulinemia and diffuse large B-Cell lymphoma; IMO-2055/IMO-2125 for immune-oncology; IMO-8400 for dermatomyositis and Duchenne Muscular Dystrophy (DMD), and IMO-9200 for selected autoimmune disease.