Short Interest Update on Idera Pharmaceuticals (IDRA)

Idera Pharmaceuticals (IDRA) : 24 days before expiry, shorts in Idera Pharmaceuticals (IDRA) have reduced from 13,859,517 on Jul 29, 2016, to 13,657,979 on August 15, 2016. On an average, 557,765 shares are traded on the exchange. The outstanding bearish positions are equal to 11.4% of the float. Short sellers have covered -201,538 shares, a reduction of -1.5%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Idera Pharmaceuticals (NASDAQ:IDRA): The stock opened at $1.95 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.09 for the day. The stock traded down to $1.93 during the day, due to lack of any buying support eventually closed down at $1.94 with a loss of -0.51% for the day. The stock had closed at $1.95 on the previous day. The total traded volume was 1,299,493 shares.


In a related news, Casey Mark J, officer (Senior VP & General Counsel) of Idera Pharmaceuticals, Inc., had purchased 34,450 shares on May 12, 2016. The total value of the transaction was $49,608. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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