Zacks Investment Research downgraded shares of Immune Design (NASDAQ:IMDZ) from a buy rating to a hold rating in a research note released on Monday morning.

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.”

IMDZ has been the topic of several other research reports. ValuEngine downgraded Immune Design from a hold rating to a sell rating in a report on Monday, October 2nd. Cowen reiterated a buy rating on shares of Immune Design in a report on Monday, December 11th. Wells Fargo & Co downgraded Immune Design from an outperform rating to a market perform rating and decreased their price objective for the stock from $29.00 to $10.00 in a report on Tuesday, October 17th. Finally, Royal Bank of Canada assumed coverage on Immune Design in a report on Thursday, September 14th. They issued an outperform rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $13.06.

Shares of Immune Design (NASDAQ:IMDZ) traded down $0.17 during mid-day trading on Monday, reaching $3.65. The company’s stock had a trading volume of 1,276,900 shares, compared to its average volume of 572,286. Immune Design has a 52-week low of $3.50 and a 52-week high of $13.05. The company has a market capitalization of $170.85, a price-to-earnings ratio of -1.71 and a beta of 2.36.

Immune Design (NASDAQ:IMDZ) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Immune Design had a negative return on equity of 68.69% and a negative net margin of 619.62%. The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.62 million. research analysts expect that Immune Design will post -1.89 earnings per share for the current year.

In other news, major shareholder Leo Guthart bought 10,000 shares of Immune Design stock in a transaction on Thursday, October 19th. The shares were purchased at an average price of $6.09 per share, for a total transaction of $60,900.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carlos V. Paya sold 7,970 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was 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 in the company, valued at approximately $477,715.20. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 5,310,000 shares of company stock worth $21,855,900 and have sold 13,959 shares worth $58,209. 20.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of Immune Design by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,060,234 shares of the biotechnology company’s stock worth $21,324,000 after acquiring an additional 82,670 shares during the period. Franklin Resources Inc. boosted its position in shares of Immune Design by 2.7% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Immune Design by 118.7% in the 2nd 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Immune Design by 37.9% in the 2nd quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock worth $5,118,000 after purchasing an additional 144,408 shares in the last quarter. Finally, Bain Capital Public Equity Management LLC boosted its position in shares of Immune Design by 393.1% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 29.34% of the company’s stock.

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Immune Design 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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