Prima BioMed (NASDAQ:IMMP) Downgraded to Hold Rating by Maxim Group

Prima BioMed (NASDAQ:IMMP) was downgraded by equities researchers at Maxim Group from a “buy” rating to a “hold” rating in a report issued on Friday.

Other equities analysts also recently issued reports about the stock. Citizens Jmp downgraded shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Robert W. Baird lowered Prima BioMed from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $1.00 in a research report on Friday. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Prima BioMed currently has an average rating of “Reduce” and a consensus price target of $5.50.

Prima BioMed Stock Performance

NASDAQ:IMMP traded down $2.23 during trading hours on Friday, hitting $0.53. The company had a trading volume of 37,118,296 shares, compared to its average volume of 995,384. The stock has a 50-day moving average price of $2.85 and a 200 day moving average price of $2.29. Prima BioMed has a 52 week low of $0.46 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 business had revenue of $1.36 million for the quarter. As a group, research analysts predict that Prima BioMed will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC increased its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. 2.32% of the stock is owned by hedge funds and other institutional investors.

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.