Prima BioMed (NASDAQ:IMMP) Coverage Initiated by Analysts at Citizens Jmp

Stock analysts at Citizens Jmp assumed coverage on shares of Prima BioMed (NASDAQ:IMMP) in a research report issued on Tuesday. The firm set a “mkt outperform” rating and a $6.00 price target on the biotechnology company’s stock. Citizens Jmp’s price target points to a potential upside of 127.27% from the stock’s previous close.

Several other analysts have also issued reports on the company. Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $6.00.

Prima BioMed Stock Down 3.6%

Shares of IMMP stock opened at $2.64 on Tuesday. The firm’s 50-day simple moving average is $2.85 and its two-hundred day simple moving average is $2.17. 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

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC raised its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company’s stock after buying 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 filing with the Securities & Exchange Commission. 2.32% of the stock is currently owned by institutional investors and hedge funds.

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.