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Idera Pharmaceuticals (IDRA) Plunges on Negative Summer Street Review of Lead Therapy

By  +Follow March 24, 2014 3:09AM
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In an off day across the biotech segment, small-cap pharmaceutical company Idera Pharmaceuticals (IDRA) saw its shares get hammered to the tune of a 25 percent or more loss on Monday. Driving the losses was a negative report from Summer Street Research Partners on Idera’s lead therapy, IMO-8400, that said the drug was unimpressive and expected to fail.

Shares opened at $5.70 apiece, down 6 percent from Friday’s close, but shares started to plunge significantly along with the rest of the market, falling to under $4.70 a share in the first 15 minutes of trading action. The stock made brief recoveries twice only to fall even further each time, hitting lows of $4.51 a share for a loss of more than 25 percent.

IMO-8400 is a DNA-based compound being developed for treatment of B-cell lympyhoma and autoimmune diseases by disrupting the biological process of the disease. From the company’s website:

“The Company’s lead candidate, IMO-8400, has a novel mechanism of action as an antagonist to Toll-like receptors (TLR) 7, 8, and 9. Toll-like receptors are proteins whose activation plays a key role in both autoimmune diseases and forms of B-cell lymphoma where the MYD88 L265P genetic mutation is present, including Waldenström’s macroglobulinemia (WM) and activated B-cell-like diffuse large B-cell lymphoma (ABC-DLBCL). Treatment with IMO-8400 blocks over-activation of these TLRs, and interrupts the processes that lead to disease progression.”

IMO-8400 is currently conducting a 32-patient phase II clinical trial that began in September of last year. Idera is also developing IMO-9200 as its second novel antagonist for treating certain autoimmune diseases and should begin clinical trial in the second half of the year.

Some key technical factors may have influenced the size of Idera’s sell off. Most notably, the stock’s stachostic RSI, a key technical factor, had reached 1.00 on Friday. Any reading above 0.80 is typically viewed as a sign that the stock could be overbought.

It has been a strong year so far for Idera, with the stock trading in an upchannel that had shares up over 30 percent in 2014 prior to Monday’s losses. It was the peak of a one-year period in which Idera had been a 10-bagger, increasing by more than 1,000 percent in that period.

Today’s action saw shares cross both the 20-day and 50-day SMA from above as well as breaking through a rising support level at just over $5 a share that had appeared to bolster the confidence of investors since forming in mid-November.

 

 

Editor's note: this article had previously referred to Summer Street Research Partners as Summer Street Capital, a separate and unafilliated company. It has been edited to correct this mistake.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for IDRA
Eli Pritsker
27 Mar 15 17:19:54
RT @tsullivan70: Bought more $IDRA. Now my second largest position. Seems awfully cheap to me. Bakers own a ton of this.
Eli Pritsker
27 Mar 15 17:19:47
RT @mussocpa: $IDRA here $3.29-#bakerbros owned 1.628M per their 12/31/14 filing & bought 5.3M shares per form4 @sheffstation http://t.co/b…
Eli Pritsker
27 Mar 15 17:19:31
RT @prospern23: Picked up some more $SYN & $IDRA today. Worth a good look folks at these levels. SYN: Randall Kirk. IDRA: Baker Brothers
dailystockplays.com
27 Mar 15 14:23:09
RSI Below 30 http://t.co/Cq9Q1m4Sxq $ROVI $DD $GALE $LRCX $MEIP $IDRA $CTIC $DAR $MON $GMCR $ACHN $WTW $HLSS $NKTR $LUK $CMCSK $PPC $FMC
US_proptrader
27 Mar 15 12:53:30
$AGEN $AMRN $BIOS $CRC $ENVA $EXAS $HZNP $IDRA $TXMD autocharts @ http://t.co/cLiki3R0GR
Timothy Sullivan
27 Mar 15 12:27:12
Bought more $IDRA. Now my second largest position. Seems awfully cheap to me. Bakers own a ton of this.
Greg David
27 Mar 15 12:15:15
http://t.co/RMvVXnJDpv does trade alerts differently than anyone else. Its super cool. $ANAD $IDRA $PGN $OXIS $TNK $BLDP
Stockaholics
27 Mar 15 11:53:48
Our Stock Tips Have Gained Over 230% In Less Than 24 Hours! Huge News: http://t.co/FW1zCkmOE6 $QCOR $FCEL $IDRA
Stock Rocket
27 Mar 15 11:51:47
Our Penny Stock Newsletter Picks Gained Over 1485%! Huge Update: http://t.co/cDuleLngkJ $QCOR $FCEL $IDRA
Mussocpa.net
27 Mar 15 10:59:45
$IDRA here $3.29-#bakerbros owned 1.628M per their 12/31/14 filing & bought 5.3M shares per form4 @sheffstation http://t.co/bMM4ZpzVpc
vegar no
27 Mar 15 10:31:55
@Iamsaltafosso @IMMENSOALICETTA @falsoguaritore Ma $IDRA si riprenderà? :(
Penny Stockington
27 Mar 15 10:04:36
Our Penny Stock Pick On $RCGP Has Gained Over 236% In 2 Days! Get Our Next Pick Eary: http://t.co/22aEoRrPYm $QCOR $FCEL $IDRA
StockNewsWires
27 Mar 15 06:50:04
$IDRA $TEAR: Morning Buzz: Idera Pharmaceuticals (NASDAQ:IDRA), TearLab ...: http://t.co/DZ9SDgsHXU
ProVesting
27 Mar 15 05:55:03
$VALE $IDRA: Hot Alert: Vale S.A. (NYSE:VALE), Idera Pharmaceuticals, Inc ...: http://t.co/6B3MtSdwAY
Stockaholics
27 Mar 15 01:36:29
Our Winning Stock Tips Gained Over 680% In The Past 2 Months! Subscribe Today: http://t.co/lLjJU4COQW $QCOR $FCEL $IDRA
Penny Stockington
27 Mar 15 01:21:51
Our Penny Stock Alerts Have Gained Over 1000% So Far This Year! Big News: http://t.co/Mq9GADvqO5 $QCOR $FCEL $IDRA
Stock Rocket
27 Mar 15 01:11:23
$THCZ Has Become One Of The Hottest Penny Stocks Of The Year So Far! Check It Out: http://t.co/3wv3AMJ7Ni $QCOR $FCEL $IDRA
Stock Dawgzz
27 Mar 15 00:29:57
Our Penny Stock Picks Have Gained Over 1485% In The Past 4 Months! MASSIVE Update: http://t.co/Nr8lmTigQP $QCOR $FCEL $IDRA
StockenheimerSchmidt
27 Mar 15 00:29:16
Our Penny Stock Pick On $THCZ Is Up 321.54% In Less Than 6 Weeks! This is Huge: http://t.co/WroUGtaeZF $QCOR $FCEL $IDRA
Prospering
26 Mar 15 18:18:50
Picked up some more $SYN & $IDRA today. Worth a good look folks at these levels. SYN: Randall Kirk. IDRA: Baker Brothers
Stock Dawgzz
26 Mar 15 15:48:00
Our Penny Stock Newsletter Alert On $RCGP Gained 57% Mid-Day Today! Blog Update: http://t.co/Dk7CzkVjdH $QCOR $FCEL $IDRA
UPstockstrading
26 Mar 15 15:09:22
Check out our latest setups & alerts http://t.co/Gi2jLW8V8S $IDRA $CNAT $MAGS
dailystockplays.com
26 Mar 15 14:18:47
MFI Below 20 http://t.co/fEvo7mua1u $AVEO $VSH $HDB $CSC $EJ $IDRA $NTAP
StockenheimerSchmidt
26 Mar 15 12:44:43
Our Penny Stock Picks Have Gained Over 1485% In The Past 4 Months! MASSIVE Update: http://t.co/Cu9lMFFRwA $QCOR $FCEL $IDRA
Mark Trader
26 Mar 15 12:39:20
The last http://t.co/8hGh2pxMWQ alert popped over 400%. So sweet and free to sign up. $MCIG $HERO $PHOT $KWK $ANTH $IDRA
UPstockstrading
26 Mar 15 12:32:51
RT @upstocks13: UPstocks latest newsletter $VBLT $IDRA $NVDA http://t.co/SGBETNG6tY
UPstockstrading
26 Mar 15 12:32:48
RT @upstocks13: latest trades $IDRA $CNAT $MAGS http://t.co/HhfudjFVzj
Aziz Saba
26 Mar 15 12:32:35
latest trades $IDRA $CNAT $MAGS http://t.co/HhfudjFVzj
Aziz Saba
26 Mar 15 12:32:23
UPstocks latest newsletter $VBLT $IDRA $NVDA http://t.co/SGBETNG6tY
US_proptrader
26 Mar 15 12:31:04
$CLDN $CRMD $EXXI $ICPT $IDRA $PTCT $SN $VA $WBAI autocharts @ http://t.co/cLiki3R0GR
UPstockstrading
26 Mar 15 12:17:11
RT @upstocks13: +230$ with $CNAT $MAGS $IDRA , http://t.co/W241ukzFl8
Aziz Saba
26 Mar 15 12:06:58
+230$ with $CNAT $MAGS $IDRA , http://t.co/W241ukzFl8
Stockaholics
26 Mar 15 12:04:22
Our Penny Stock Alerts Gained 600% In 2 Months! Get Our Next Picks Early: http://t.co/tEvkQFqi7N $QCOR $FCEL $IDRA
Timothy Sullivan
26 Mar 15 12:03:58
Bought some $IDRA today.
Penny Stockington
26 Mar 15 11:32:48
Our Penny Stock Pick On $THCZ Is Up 321.54% In Less Than 6 Weeks! Big News: http://t.co/PqlF5t9PRj $QCOR $FCEL $IDRA
Stock Rocket
26 Mar 15 11:01:24
$THCZ Has Become One Of The Hottest Penny Stocks Of The Year So Far! Check It Out: http://t.co/3wv3AMJ7Ni $QCOR $FCEL $IDRA
Penny Stock Secret
26 Mar 15 10:47:29
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/NovWYe2RAx .. $QCOR $FCEL $IDRA
Aziz Saba
26 Mar 15 10:42:53
@upstocks13 $IDRA HOD
TraderBH
26 Mar 15 10:26:41
A lot of small bios traded outside the lower Bollinger Band. Got a few low fills today, will be looking for a snapback rally to scalp $IDRA
Greg David
26 Mar 15 10:21:07
http://t.co/RMvVXnJDpv does trade alerts differently than anyone else. Its super cool. $ANAD $IDRA $PGN $OXIS $TNK $BLDP
Mark Trader
26 Mar 15 10:19:41
The last http://t.co/8hGh2pgc5i alert popped over 400%. So sweet and free to sign up. $MCIG $HERO $PHOT $KWK $ANTH $IDRA
Aziz Saba
26 Mar 15 09:57:30
$IDRA break out intra-day
Aziz Saba
26 Mar 15 09:24:56
Killer day with $MAGS $IDRA http://t.co/b9auG1IkhD
Leo Kolivakis
26 Mar 15 09:15:03
Biotechs on my watch list: $ARWR $BIIB $BCRX $IDRA $ISIS $JUNO $KITE $PGNX $XNPT
Aziz Saba
26 Mar 15 07:46:38
$IDRA bouncing off support
Beverage Consulting
26 Mar 15 06:40:22
RT @rosnerstocks: $AMZN Opinions Updated Thursday, March 12, 2015 7:59:21 PM $IDRA $KMI $SAM $SLW http://t.co/3dBWvTNRYF
StockNewsWires
26 Mar 15 06:20:05
$IDRA $SD: Momentum Stocks: Idera Pharmaceuticals, Inc. (NASDAQ:IDRA ...: http://t.co/Azvz75WcsZ
HotStockAlert $PKGM$
26 Mar 15 06:11:56
ClayTrader: * * $IDRA Video Chart 03-25-15 * * http://t.co/FlZtr0GTNh
DayTraderChoice
26 Mar 15 06:07:56
ClayTrader: * * $IDRA Video Chart 03-25-15 * * http://t.co/OgsNhG4yl4
MyStockTargEt!$$
26 Mar 15 06:05:09
ClayTrader: * * $IDRA Video Chart 03-25-15 * * http://t.co/dQVZJnhQfI
				
				
By  +Follow March 24, 2014 3:09AM
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