Prima BioMed Ltd (NASDAQ:IMMP) Shares Shorted: Short Interest Down 95.2% in September

Prima BioMed Ltd (NASDAQ:IMMP) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 46,784 shares, a decrease of 95.2% from the September 15th total of 971,238 shares. Based on an average daily volume of 23,076 shares, the short-interest ratio is presently 2.0 days. Currently, 0.7% of the company’s shares are sold short.

Prima BioMed Stock Down 5.5%

Shares of Prima BioMed stock traded down $0.21 during trading on Friday, reaching $3.63. 23,406 shares of the company were exchanged, compared to its average volume of 22,214. Prima BioMed has a twelve month low of $3.55 and a twelve month high of $70.60. The business has a 50-day moving average price of $6.60 and a 200-day moving average price of $7.80.

Prima BioMed (NASDAQ:IMMP) last released its earnings results on Thursday, July 30th. The biotechnology company reported ($1.80) earnings per share for the quarter. The business had revenue of $3.68 million during the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IMMP shares. 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 restated a “sell (e+)” rating on shares of Prima BioMed in a report on Tuesday, October 6th. Finally, Jefferies Financial Group raised shares of Prima BioMed from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prima BioMed presently has a consensus rating of “Hold” and an average target price of $110.00.

About Prima BioMed

Prima BioMed Limited was an Australian biotechnology company focused on developing immunotherapies for cancer and other serious diseases. The company’s research centered on treatments designed to activate or enhance the immune system’s ability to recognize and attack abnormal cells.

Its principal programs included LAG-3–targeted therapies, including IMP321, later known as eftilagimod alpha or efti, an investigational soluble LAG-3 protein intended to stimulate immune responses when used alone or in combination with other cancer treatments.