Immune Design (IMDZ) Downgraded by Zacks Investment Research

Immune Design (NASDAQ:IMDZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Immune Design'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. Estimates have remained stable ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”

Other analysts have also issued research reports about the stock. Cowen reiterated a “buy” rating on shares of Immune Design in a research note on Monday, December 11th. Wells Fargo & Co lowered shares of Immune Design from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $29.00 to $10.00 in a research report on Tuesday, October 17th. Royal Bank of Canada started coverage on shares of Immune Design in a research report on Thursday, September 14th. They set an “outperform” rating and a $20.00 price target for the company. Finally, ValuEngine lowered shares of Immune Design from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $13.06.

Immune Design (NASDAQ:IMDZ) traded down $0.10 during mid-day trading on Monday, reaching $3.83. 263,500 shares of the company’s stock traded hands, compared to its average volume of 454,850. Immune Design has a 12-month low of $3.50 and a 12-month high of $13.05. The company has a market capitalization of $183.83, a price-to-earnings ratio of -1.80 and a beta of 2.36.

Immune Design (NASDAQ:IMDZ) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share for the quarter, beating the 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 firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.62 million. equities analysts predict that Immune Design will post -1.89 EPS for the current year.

In other news, CEO Carlos V. Paya sold 7,970 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $4.17, for a total transaction of $33,234.90. Following the completion of the transaction, the chief executive officer now owns 114,560 shares in the company, valued at $477,715.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Leo Guthart purchased 10,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were 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. In the last 90 days, insiders have bought 5,290,000 shares of company stock valued at $21,777,900 and have sold 13,959 shares valued at $58,209. 20.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in IMDZ. Rhumbline Advisers grew its position in shares of Immune Design by 53.9% during the second quarter. Rhumbline Advisers now owns 19,694 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 6,896 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in Immune Design in the second quarter worth about $117,000. Bank of New York Mellon Corp lifted its holdings in Immune Design by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 79,211 shares of the biotechnology company’s stock worth $773,000 after purchasing an additional 17,563 shares during the period. JPMorgan Chase & Co. lifted its holdings in Immune Design by 118.7% in 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 during the period. Finally, Franklin Resources Inc. lifted its holdings in Immune Design by 2.7% in 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 during the period. Institutional investors and hedge funds own 29.34% of the company’s stock.

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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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