Prima BioMed Ltd (NASDAQ:IMMP) Short Interest Update

Prima BioMed Ltd (NASDAQ:IMMP) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 2,150,202 shares, a decline of 44.8% from the June 30th total of 3,897,062 shares. Based on an average daily trading volume, of 407,315 shares, the days-to-cover ratio is presently 5.3 days. Approximately 1.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC boosted its position in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,574 shares of the biotechnology company’s stock after purchasing 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 SEC filing. Institutional investors own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IMMP shares. Maxim Group raised Prima BioMed from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Prima BioMed to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Prima BioMed has a consensus rating of “Hold” and a consensus price target of $5.50.

Prima BioMed Trading Down 1.5%

Prima BioMed stock traded down $0.01 during mid-day trading on Wednesday, reaching $0.38. The company had a trading volume of 185,486 shares, compared to its average volume of 6,698,108. Prima BioMed has a 1 year low of $0.29 and a 1 year high of $3.53. The stock’s 50-day simple moving average is $0.41 and its 200-day simple moving average is $1.21.

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.