Immune Design (IMDZ) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Immune Design (NASDAQ:IMDZ) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Immune Design’s primary candidate, G100 is being developed for merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. The company’s initial focus is to assess the efficacy of G100 combined with Merck’s Keytruda in relapsed refractory follicular lymphoma patients who have received three prior lines of systemic therapy. The company’s strategic agreements with companies like Sanofi, Roche and Merck is positive as it 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, heavy dependence on other companies for revenue growth increases the company’s vulnerability. However, in October 2018, Immune Design discontinued CMB305 cancer vaccine program, following a review of its portfolio. Shares of the company underperformed the industry year to date.”

Other equities analysts also recently issued reports about the stock. HC Wainwright set a $8.00 target price on shares of Immune Design and gave the stock a buy rating in a report on Wednesday, November 7th. Royal Bank of Canada reiterated an outperform rating and issued a $11.00 target price on shares of Immune Design in a report on Friday, October 12th. Leerink Swann downgraded shares of Immune Design from an outperform rating to a market perform rating in a report on Friday, October 12th. Finally, ValuEngine upgraded shares of Immune Design from a sell rating to a hold rating in a report on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $7.13.

Shares of IMDZ stock traded down $0.01 on Tuesday, hitting $1.47. The stock had a trading volume of 2,308 shares, compared to its average volume of 305,497. The company has a market capitalization of $72.73 million, a P/E ratio of -0.85 and a beta of 2.43. Immune Design has a one year low of $1.10 and a one year high of $5.05.

Immune Design (NASDAQ:IMDZ) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.75 million. Immune Design had a negative return on equity of 43.44% and a negative net margin of 2,409.84%. On average, analysts predict that Immune Design will post -1.14 EPS for the current year.

In other news, major shareholder Bvf Partners L. P/Il sold 902,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $1.83, for a total transaction of $1,650,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 927,466 shares of company stock worth $1,690,895. Corporate insiders own 18.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Immune Design by 10.6% during the second quarter. BlackRock Inc. now owns 2,121,271 shares of the biotechnology company’s stock valued at $9,651,000 after acquiring an additional 204,171 shares in the last quarter. Vanguard Group Inc boosted its position in Immune Design by 0.7% in the third quarter. Vanguard Group Inc now owns 1,615,442 shares of the biotechnology company’s stock valued at $5,574,000 after buying an additional 11,006 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Immune Design by 48.1% in the third quarter. Dimensional Fund Advisors LP now owns 661,961 shares of the biotechnology company’s stock valued at $2,284,000 after buying an additional 214,935 shares during the last quarter. Northern Trust Corp boosted its position in Immune Design by 11.0% in the second quarter. Northern Trust Corp now owns 357,880 shares of the biotechnology company’s stock valued at $1,628,000 after buying an additional 35,439 shares during the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in Immune Design by 172.1% in the third quarter. Bridgeway Capital Management Inc. now owns 221,192 shares of the biotechnology company’s stock valued at $763,000 after buying an additional 139,900 shares during the last quarter. Hedge funds and other institutional investors own 46.27% of the company’s stock.

Immune Design Company Profile

Immune Design Corp., a clinical-stage immunotherapy company, engages in the research and development of in vivo treatments for cancer. The company primarily develops oncology product candidates based on its ZVex and GLAAS discovery platforms. Its lead products include CMB305, a cancer vaccine targeting the NY-ESO-1 tumor antigen, which is in Phase 2 trial for the treatment of patients with synovial and MRCL sarcoma as a monotherapy; and G100, an antigen agnostic intratumoral product candidate as a monotherapy and combination therapy for the treatment of patients with follicular non-Hodgkin Lymphoma.

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