Today’s Research Reports on Trending Tickers: Idera Pharmaceuticals and Incyte
U.S. markets fell for the second consecutive session Wednesday as the tech sector’s struggles continued. The Dow Jones Industrial Average declined 0.04 percent to close at 23,848.42, while the S&P 500 Index fell 0.29 percent to close at 2,605.00. The Nasdaq Composite Index fell 0.85 percent to close at 6,949.23. On Wednesday, the Technology Select Sector SPDR fund dropped 0.67 percent, while the VanEck Vectors Semiconductor ETF fell 2.22 percent, closing more than 10 percent below its 52-week high.
"Tech is driving the news today," said Adam Sarhan, CEO of 50 Park Investments, according to CNBC. "What you’re seeing is a rotation out of tech and into some of the more fairly and under-valued areas of the market."
RDI Initiates Coverage on:
Idera Pharmaceuticals, Inc.
Idera Pharmaceuticals’ stock moved 8.54% lower Wednesday, to close the day at $1.82. The stock recorded a trading volume of 2,261,588 shares, which was above its three months average volume of 1,840,181 shares. In the last year, Idera Pharmaceuticals’ shares have traded in a range of 1.32 – 2.87. The share price has gained 37.88% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $1.94 is below its 200-day moving average of $2.08. Shares of Idera Pharmaceuticals have gained roughly 2.82 percent in the past month and are down 13.74 percent year-to-date.
Access RDI’s Idera Pharmaceuticals, Inc. Research Report at:
On Wednesday, shares of Incyte recorded a trading volume of 1,685,383 shares, which was below the three months average volume of 1,722,247 shares. The stock ended the day 0.08% lower at 84.96. The stock is currently trading 41.13% below its 52 week high with a 52 week trading range of 80.85 – 144.32. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $87.79 is below its 200-day moving average of $99.73. Shares of Incyte have fallen roughly 0.23% percent in the past month and are down 10.29 percent year-to-date.
Access RDI’s Incyte Corporation Research Report at:
Our Actionable Research on Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) and Incyte Corporation (NASDAQ:INCY) can be downloaded free of charge at Research Driven Investing.
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