Immune Design Corp (NASDAQ:IMDZ) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,348,299 shares, a growth of 86.6% from the October 31st total of 722,704 shares. Based on an average daily trading volume, of 1,177,872 shares, the days-to-cover ratio is currently 1.1 days. Currently, 5.2% of the shares of the company are sold short.
In other news, Director Peter Svennilson acquired 2,681,000 shares of Immune Design stock in a transaction dated Friday, October 27th. The stock was acquired at an average cost of $4.10 per share, for a total transaction of $10,992,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Leo Guthart acquired 10,000 shares of Immune Design stock in a transaction dated Thursday, October 19th. The stock was purchased at an average price of $6.09 per share, with a total value of $60,900.00. The disclosure for this purchase can be found here. Insiders bought 5,300,000 shares of company stock valued at $21,874,900 over the last 90 days. 20.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its position in Immune Design by 110.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 34,143 shares of the biotechnology company’s stock worth $354,000 after acquiring an additional 17,900 shares during the period. EAM Investors LLC bought a new stake in Immune Design in the 3rd quarter valued at $387,000. Victory Capital Management Inc. increased its holdings in Immune Design by 4.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,060,234 shares of the biotechnology company’s stock valued at $21,324,000 after buying an additional 82,670 shares during the period. California State Teachers Retirement System increased its holdings in Immune Design by 8.3% in the 2nd quarter. California State Teachers Retirement System now owns 30,174 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 2,300 shares during the period. Finally, Sectoral Asset Management Inc bought a new stake in Immune Design in the 2nd quarter valued at $1,641,000. 29.38% of the stock is currently owned by institutional investors and hedge funds.
Immune Design (NASDAQ:IMDZ) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.11. Immune Design had a negative net margin of 619.62% and a negative return on equity of 68.69%. The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.62 million. sell-side analysts anticipate that Immune Design will post -1.89 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Immune Design from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine cut shares of Immune Design from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Wells Fargo & Company lowered shares of Immune Design from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $10.00 in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada began coverage on shares of Immune Design in a research report on Thursday, September 14th. They set an “outperform” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Immune Design currently has an average rating of “Hold” and a consensus price target of $13.19.
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About Immune Design
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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