Prima BioMed (NASDAQ:IMMP) Now Covered by Citizens Jmp

Research analysts at Citizens Jmp started coverage on shares of Prima BioMed (NASDAQ:IMMP) in a research report issued on Monday,Benzinga reports. The brokerage set a “market outperform” rating and a $10.00 price target on the biotechnology company’s stock. Citizens Jmp’s price objective indicates a potential upside of 262.98% from the company’s current price.

A number of other equities research analysts have also recently commented on IMMP. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Prima BioMed Stock Performance

Prima BioMed stock opened at $2.76 on Monday. The firm has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.20. Prima BioMed has a 52-week low of $1.32 and a 52-week high of $3.53.

Institutional Investors Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC boosted its position in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing. 2.32% of the stock is owned by hedge funds and other institutional investors.

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.