Maxim Group reiterated their buy rating on shares of Prima BioMed Ltd (NASDAQ:PBMD) in a research note published on Thursday morning. They currently have a $7.00 target price on the biotechnology company’s stock.
“Prima announced data that will be presented at the upcoming SITC Meeting (Society for Immunotherapy of Cancer, 11/10-11/12) from the ongoing study of IMP321 (Eftilagimod Alpha, LAG-3Ig) + Keytruda in melanoma.”,” the firm’s analyst commented.
Prima BioMed (NASDAQ PBMD) traded down $0.06 during mid-day trading on Thursday, hitting $2.07. 66,200 shares of the company’s stock were exchanged, compared to its average volume of 93,230. Prima BioMed has a 12-month low of $1.40 and a 12-month high of $3.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.06 and a current ratio of 6.06.
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An institutional investor recently bought a new position in Prima BioMed stock. Sabby Management LLC acquired a new position in Prima BioMed Ltd (NASDAQ:PBMD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 962,835 shares of the biotechnology company’s stock, valued at approximately $1,993,000. Sabby Management LLC owned 4.08% of Prima BioMed as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 4.42% of the company’s stock.
About Prima BioMed
Prima BioMed Ltd is a biotechnology company. The Company is engaged in research, development and commercialization of licensed medical biotechnology. It is also focused on development of immunotherapeutic products. The Company operates through Cancer Immunotherapy segment. Its core technologies are based on the Lymphocyte-activation gene 3 (LAG-3) immune control mechanism, which is involved in regulation of the T cell immune response.
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