Immune Design Corp. (IMDZ) Shares Gap Up on Insider Buying Activity
Shares of Immune Design Corp. (NASDAQ:IMDZ) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $4.90, but opened at $4.60. Immune Design Corp. shares last traded at $4.90, with a volume of 898,485 shares.
Specifically, major shareholder Leo Guthart acquired 2,439,000 shares of the stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $4.10 per share, for a total transaction of $9,999,900.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Svennilson acquired 2,681,000 shares of the stock in a transaction on Friday, October 27th. The shares were bought at an average price of $4.10 per share, for a total transaction of $10,992,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 5,250,000 shares of company stock worth $21,649,900. 20.70% of the stock is owned by corporate insiders.
A number of research firms have commented on IMDZ. Royal Bank Of Canada began coverage on Immune Design Corp. in a research note on Thursday, September 14th. They set an “outperform” rating and a $20.00 price objective on the stock. ValuEngine lowered Immune Design Corp. from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. BidaskClub lowered Immune Design Corp. from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Wells Fargo & Company lowered Immune Design Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $29.00 to $10.00 in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded Immune Design Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Immune Design Corp. has a consensus rating of “Buy” and a consensus target price of $14.75.
Immune Design Corp. (NASDAQ:IMDZ) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.11. The firm had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $0.62 million. Immune Design Corp. had a negative net margin of 324.33% and a negative return on equity of 59.14%.
Several institutional investors have recently added to or reduced their stakes in IMDZ. Bain Capital Public Equity Management LLC increased its holdings in shares of Immune Design Corp. by 393.1% in the second quarter. Bain Capital Public Equity Management LLC now owns 389,400 shares of the biotechnology company’s stock worth $3,797,000 after purchasing an additional 310,433 shares during the period. JPMorgan Chase & Co. grew its position in Immune Design Corp. 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 acquiring an additional 288,009 shares in the last quarter. Sectoral Asset Management Inc purchased a new position in Immune Design Corp. in the second quarter worth $1,641,000. Numeric Investors LLC purchased a new position in Immune Design Corp. in the second quarter worth $1,641,000. Finally, Vanguard Group Inc. grew its position in Immune Design Corp. by 37.9% in the second quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock worth $5,118,000 after acquiring an additional 144,408 shares in the last quarter. 51.44% of the stock is currently owned by hedge funds and other institutional investors.
Immune Design Corp. Company Profile
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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