Wells Fargo & Company Downgrades Immune Design Corp. (NASDAQ:IMDZ) to Market Perform

Wells Fargo & Company cut shares of Immune Design Corp. (NASDAQ:IMDZ) from an outperform rating to a market perform rating in a report published on Tuesday, October 17th. Wells Fargo & Company currently has $10.00 price objective on the biotechnology company’s stock, down from their previous price objective of $29.00.

A number of other equities analysts have also commented on IMDZ. ValuEngine raised shares of Immune Design Corp. from a strong sell rating to a sell rating in a research note on Thursday, June 22nd. Jefferies Group LLC restated a buy rating and set a $18.00 price target on shares of Immune Design Corp. in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Immune Design Corp. from a hold rating to a buy rating and set a $11.00 price target on the stock in a report on Tuesday, July 18th. BidaskClub downgraded shares of Immune Design Corp. from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Finally, Royal Bank Of Canada initiated coverage on shares of Immune Design Corp. in a research report on Thursday, September 14th. They set an outperform rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Immune Design Corp. presently has a consensus rating of Buy and an average price target of $13.19.

Immune Design Corp. (NASDAQ:IMDZ) traded up $0.30 on Tuesday, reaching $4.45. 1,213,391 shares of the company traded hands, compared to its average volume of 1,561,564. Immune Design Corp. has a 52-week low of $3.78 and a 52-week high of $13.05.

Immune Design Corp. (NASDAQ:IMDZ) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.52) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.11. The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.62 million. Immune Design Corp. had a negative net margin of 619.62% and a negative return on equity of 68.69%. analysts expect that Immune Design Corp. will post -1.87 EPS for the current year.

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In related news, major shareholder Leo Guthart purchased 10,000 shares of Immune Design Corp. stock in a transaction dated Monday, September 18th. The stock was bought at an average price of $9.70 per share, for a total transaction of $97,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Svennilson bought 2,681,000 shares of Immune Design Corp. stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average price of $4.10 per share, with a total value of $10,992,100.00. The disclosure for this purchase can be found here. Insiders acquired 5,300,000 shares of company stock valued at $21,874,900 in the last ninety days. Insiders own 20.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bain Capital Public Equity Management LLC grew its stake in Immune Design Corp. by 393.1% during 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 buying an additional 310,433 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Immune Design Corp. by 118.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 530,702 shares of the biotechnology company’s stock valued at $5,175,000 after purchasing an additional 288,009 shares in the last quarter. Sectoral Asset Management Inc acquired a new stake in shares of Immune Design Corp. in the 2nd quarter valued at approximately $1,641,000. Numeric Investors LLC acquired a new stake in shares of Immune Design Corp. in the 2nd quarter valued at approximately $1,641,000. Finally, Vanguard Group Inc. boosted its stake in shares of Immune Design Corp. by 37.9% in the 2nd quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock valued at $5,118,000 after purchasing an additional 144,408 shares in the last quarter. 51.76% of the stock is currently owned by institutional investors and hedge funds.

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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