Prima BioMed Sees Unusually Large Options Volume (NASDAQ:IMMP)

Prima BioMed Ltd (NASDAQ:IMMP) saw unusually large options trading activity on Wednesday. Stock investors acquired 8,815 call options on the company. This is an increase of approximately 4,515% compared to the average daily volume of 191 call options.

Hedge Funds Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC grew its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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. Institutional investors own 2.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on IMMP shares. Maxim Group downgraded shares of Prima BioMed from a “buy” rating to a “hold” rating in a report on Friday, March 13th. Citizens Jmp downgraded shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. Robert W. Baird downgraded shares of Prima BioMed from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $1.00 in a report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prima BioMed in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $5.50.

Prima BioMed Price Performance

NASDAQ:IMMP traded up $0.29 on Wednesday, hitting $0.60. The company had a trading volume of 624,611,937 shares, compared to its average volume of 10,500,978. The firm has a 50 day moving average of $1.65 and a two-hundred day moving average of $2.09. Prima BioMed has a 52 week low of $0.29 and a 52 week high of $3.53.

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 company had revenue of $1.37 million for the quarter. Research analysts predict that Prima BioMed will post -0.4 earnings per share for the current fiscal year.

About Prima BioMed

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.