Zacks Investment Research downgraded shares of Immune Design Corp. (NASDAQ:IMDZ) from a buy rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “Immune Design reported narrower than expected loss in the third quarter of 2017. Currently, the company’s primary candidate, CMB305 is being evaluated for soft tissue sarcoma and G100 for Merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. Further, it had productive discussion with the FDA regarding CMB305 and has planned to initiate a pivotal phase III trial evaluating CMB305 as monotherapy in synovial sarcoma patients by mid 2018. The company is working towards the potential registration paths of these products. We are positive on its strategic agreements with companies like Sanofi, Roche, and Merck, which not only validate its GLAAS platform, but also provide the company with funds in the form of collaboration and license revenues. Although such collaborations boost its pipeline development, dependence on other companies for revenue growth increases vulnerability too.”
A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company cut shares of Immune Design Corp. from an outperform rating to a market perform rating and cut their price objective for the company from $29.00 to $10.00 in a report on Tuesday, October 17th. ValuEngine cut shares of Immune Design Corp. from a sell rating to a strong sell rating in a report on Saturday, October 21st. Royal Bank Of Canada initiated coverage on shares of Immune Design Corp. in a report on Thursday, September 14th. They issued an outperform rating and a $20.00 price objective for the company. Finally, BidaskClub cut shares of Immune Design Corp. from a strong-buy rating to a buy rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $13.19.
Shares of Immune Design Corp. (NASDAQ:IMDZ) traded down $0.09 during trading on Friday, hitting $4.31. 154,987 shares of the company traded hands, compared to its average volume of 287,012. Immune Design Corp. has a 12-month low of $3.78 and a 12-month high of $13.05.
Immune Design Corp. (NASDAQ:IMDZ) last released its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. Immune Design Corp. had a negative net margin of 619.62% and a negative return on equity of 68.69%. The company had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $0.62 million. analysts forecast that Immune Design Corp. will post -1.89 EPS for the current year.
In related news, Director Peter Svennilson bought 2,681,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $4.10 per share, with a total value of $10,992,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leo Guthart bought 10,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average cost of $6.09 per share, with a total value of $60,900.00. The disclosure for this purchase can be found here. Insiders acquired 5,300,000 shares of company stock valued at $21,874,900 in the last ninety days. 20.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of Immune Design Corp. by 4.2% during the third quarter. Victory Capital Management Inc. now owns 2,060,234 shares of the biotechnology company’s stock worth $21,324,000 after purchasing an additional 82,670 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Immune Design Corp. by 2.7% during the second quarter. Franklin Resources Inc. now owns 760,253 shares of the biotechnology company’s stock worth $7,412,000 after purchasing an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Immune Design Corp. by 118.7% during the second quarter. JPMorgan Chase & Co. now owns 530,702 shares of the biotechnology company’s stock worth $5,175,000 after purchasing an additional 288,009 shares in the last quarter. Vanguard Group Inc. boosted its position in Immune Design Corp. by 37.9% during the second quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock worth $5,118,000 after acquiring an additional 144,408 shares during the last quarter. Finally, FMR LLC boosted its position in Immune Design Corp. by 0.4% during the first quarter. FMR LLC now owns 445,152 shares of the biotechnology company’s stock worth $3,027,000 after acquiring an additional 1,699 shares during the last quarter. 51.74% of the stock is owned by institutional investors and hedge funds.
About Immune Design Corp.
Immune Design Corp. is a clinical-stage immunotherapy company. The Company is focused on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. The Company has engineered its technologies to activate the immune system’s natural ability to create tumor-specific cytotoxic T cells (CTLs) to fight cancer.
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