Prima BioMed (NASDAQ:IMMP) Shares to Reverse Split on Monday, September 28th

Prima BioMed Ltd (NASDAQ:IMMP) shares are scheduled to reverse split on the morning of Monday, September 28th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, September 27th.

Prima BioMed Stock Performance

Shares of IMMP opened at $0.33 on Wednesday. The company has a 50-day moving average price of $0.39 and a two-hundred day moving average price of $0.59. Prima BioMed has a 12 month low of $0.29 and a 12 month high of $3.53.

Prima BioMed (NASDAQ:IMMP) last announced its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.09) earnings per share for the quarter. The business had revenue of $3.68 million during the quarter.

Analysts Set New Price Targets

IMMP has been the topic of a number of recent analyst reports. Maxim Group upgraded shares of Prima BioMed from a “hold” rating to a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Prima BioMed Company Profile

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.