Prima BioMed (NASDAQ:IMMP) Upgraded at Wall Street Zen

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

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

Prima BioMed Stock Up 5.6%

Prima BioMed stock opened at $0.62 on Friday. Prima BioMed has a 52-week low of $0.29 and a 52-week high of $3.53. The firm’s fifty day moving average is $1.49 and its 200 day moving average is $2.06.

Prima BioMed (NASDAQ:IMMP) last issued its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) EPS for the quarter. The business had revenue of $1.37 million for the quarter.

Hedge Funds Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC raised its position in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,574 shares of the biotechnology company’s stock after purchasing an additional 6,617 shares during the quarter. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.32% of the company’s stock.

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.