Zacks Investment Research upgraded shares of Immune Design (NASDAQ:IMDZ) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $4.50 price target on the biotechnology company’s stock.
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 restated a buy rating on shares of Immune Design in a research note on Monday, December 11th. One 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 presently has an average rating of Buy and an average price target of $13.13.
In other news, major shareholder Leo Guthart bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was acquired at an average cost of $3.90 per share, for a total transaction of $78,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Carlos V. Paya sold 7,970 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 114,560 shares of the company’s stock, valued at $477,715.20. The disclosure for this sale can be found here. Insiders sold 13,959 shares of company stock valued at $58,209 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bain Capital Public Equity Management LLC raised its stake in shares of 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 purchasing an additional 2,017,756 shares in the last quarter. Franklin Resources Inc. grew its position in Immune Design by 313.4% in the fourth quarter. Franklin Resources Inc. now owns 3,231,753 shares of the biotechnology company’s stock valued at $12,604,000 after acquiring an additional 2,450,000 shares during the period. BlackRock Inc. grew its position in Immune Design by 80.1% in the fourth quarter. BlackRock Inc. now owns 1,868,078 shares of the biotechnology company’s stock valued at $7,285,000 after acquiring an additional 830,861 shares during the period. BVF Inc. IL bought a new stake in Immune Design in the fourth quarter valued at $5,732,000. Finally, Vanguard Group Inc. grew its position in Immune Design by 37.9% in the second quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock valued at $5,118,000 after acquiring an additional 144,408 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.
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