Immune Design (NASDAQ:IMDZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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.”
Separately, Cowen reiterated a “buy” rating on shares of Immune Design in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Immune Design presently has a consensus rating of “Hold” and a consensus target price of $13.06.
In related news, major shareholder Leo Guthart acquired 20,000 shares of Immune Design stock in a transaction that occurred on Monday, January 8th. The stock was acquired at an average price of $3.90 per share, for a total transaction of $78,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Carlos V. Paya sold 7,970 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $4.17, for a total value of $33,234.90. Following the transaction, the chief executive officer now owns 114,560 shares of the company’s stock, valued at approximately $477,715.20. The disclosure for this sale can be found here. Insiders have sold a total of 13,959 shares of company stock valued at $58,209 in the last 90 days. Insiders own 20.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. acquired a new position in Immune Design during the 2nd quarter valued at approximately $118,000. Dimensional Fund Advisors LP boosted its position in Immune Design by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,896 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 1,600 shares during the period. New York State Common Retirement Fund boosted its position in Immune Design by 95.1% during the 2nd quarter. New York State Common Retirement Fund now owns 20,100 shares of the biotechnology company’s stock valued at $196,000 after purchasing an additional 9,799 shares during the period. California State Teachers Retirement System boosted its position in Immune Design by 82.3% during the 4th quarter. California State Teachers Retirement System now owns 50,518 shares of the biotechnology company’s stock valued at $197,000 after purchasing an additional 22,799 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Immune Design by 59.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 54,543 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 20,400 shares during the period. Institutional investors and hedge funds own 53.86% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Immune Design Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immune Design and related companies with MarketBeat.com's FREE daily email newsletter.