Prima BioMed (NASDAQ:IMMP) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Prima BioMed (NASDAQ:IMMP) to a hold rating in a research report released on Saturday morning.

A number of other research analysts have also weighed in on IMMP. Maxim Group lowered shares of Prima BioMed from a “buy” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Robert W. Baird lowered shares of Prima BioMed from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $1.00 in a research report on Friday, March 13th. Finally, Citizens Jmp lowered shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $5.50.

Prima BioMed Stock Up 0.8%

Prima BioMed stock opened at $0.58 on Friday. Prima BioMed has a 1-year low of $0.29 and a 1-year high of $3.53. The firm’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $2.07.

Prima BioMed (NASDAQ:IMMP) last released its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share for the quarter. The business had revenue of $1.37 million for the quarter. Analysts anticipate that Prima BioMed will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC boosted its stake in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,574 shares of the biotechnology company’s stock after acquiring an additional 6,617 shares during the period. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 2.32% of the company’s stock.

About Prima BioMed

Prima BioMed, trading as IMMP on NASDAQ, is a clinical-stage biotechnology company specializing in the development of immunotherapy products for cancer treatment. The company’s core technology platform centers on targeting the lymphocyte activation gene-3 (LAG-3), a checkpoint receptor that modulates T-cell activity. Prima BioMed’s lead candidate, eftilagimod alpha (IMP321), is a soluble LAG-3 protein designed to enhance antigen-presenting cell function and stimulate a tumor-specific immune response.