Is Immune Design Corp (IMDZ) Going to Burn Investors?

Consequently, some big names have been driving this bullishness. Biotechnology Value Fund / BVF Inc initiated the most outsized position in Immune Design Corp (NASDAQ:IMDZ). Anand Parekh’s Alyeska Investment Group also initiated a $1.3 million position during the quarter. The following funds were also among the new IMDZ investors: Renaissance Technologies, one of the largest hedge funds in the world, Joseph Edelman’s Perceptive Advisors, and Nathan Fischel’s DAFNA Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Immune Design Corp (NASDAQ:IMDZ). These stocks are Terraping 3 Acquisition Corp (NASDAQ:TRTL), Harmony Merger Corp (NASDAQ:HRMN), Stage Stores Inc (NYSE:SSI), and Salem Communications Corp (NASDAQ:SALM). This group of stocks’ market valuations are closest to IMDZ’s market valuation.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $20 million in IMDZ’s case. Terraping 3 Acquisition Corp (NASDAQ:TRTL) is the most popular stock in this table. On the other hand Stage Stores Inc (NYSE:SSI) is the least popular one with only 5 bullish hedge fund positions. Immune Design Corp (NASDAQ:IMDZ) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TRTL might be a better candidate to consider taking a long position in.

Disclosure: None