Immune Design (NASDAQ:IMDZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $4.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.11% from the company’s previous close.
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. Shares of the company outperformed the industry in a year's time. Although such collaborations boost its pipeline development, dependence on other companies for revenue growth increases vulnerability too.”
Separately, Cowen reiterated a “buy” rating on shares of Immune Design in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.13.
Immune Design (NASDAQ IMDZ) remained flat at $$4.05 during midday trading on Tuesday. 384,075 shares of the company traded hands, compared to its average volume of 539,768. Immune Design has a 1-year low of $2.80 and a 1-year high of $13.05. The company has a market capitalization of $213.05, a price-to-earnings ratio of -1.90 and a beta of 2.09.
In other Immune Design news, major shareholder Leo Guthart purchased 20,000 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was bought at an average cost of $3.90 per share, for a total transaction of $78,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Carlos V. Paya sold 7,970 shares of Immune Design stock in a transaction that occurred on 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 directly owns 114,560 shares in the company, valued at $477,715.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,959 shares of company stock valued at $58,209. 20.70% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Anson Funds Management LP bought a new position in Immune Design in the fourth quarter valued at approximately $313,000. TIAA CREF Investment Management LLC increased its stake in Immune Design by 49.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 63,192 shares of the biotechnology company’s stock valued at $246,000 after acquiring an additional 20,777 shares during the last quarter. Teachers Advisors LLC increased its stake in Immune Design by 71.4% in the fourth quarter. Teachers Advisors LLC now owns 56,367 shares of the biotechnology company’s stock valued at $220,000 after acquiring an additional 23,475 shares during the last quarter. Bain Capital Public Equity Management LLC increased its stake in Immune Design by 155.3% in the fourth quarter. Bain Capital Public Equity Management LLC now owns 3,316,769 shares of the biotechnology company’s stock valued at $12,935,000 after acquiring an additional 2,017,756 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Immune Design by 82.3% in the fourth quarter. California State Teachers Retirement System now owns 50,518 shares of the biotechnology company’s stock valued at $197,000 after acquiring an additional 22,799 shares during the last quarter. 53.86% of the stock is currently owned by institutional investors and hedge funds.
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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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