Short Interest in Prima BioMed Ltd (NASDAQ:IMMP) Drops By 44.8%

Prima BioMed Ltd (NASDAQ:IMMP) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 2,150,202 shares, a decline of 44.8% from the June 30th total of 3,897,062 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 407,315 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Prima BioMed in a research report on Friday, July 10th. Maxim Group raised Prima BioMed from a “hold” rating to a “buy” rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Prima BioMed to a “hold” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.50.

Prima BioMed Stock Down 0.3%

Shares of IMMP stock traded down $0.00 on Thursday, hitting $0.38. 77,387 shares of the stock were exchanged, compared to its average volume of 6,650,637. Prima BioMed has a one year low of $0.29 and a one year high of $3.53. The firm’s 50 day moving average is $0.41 and its two-hundred day moving average is $1.19.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC boosted its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,574 shares of the biotechnology company’s stock after buying 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.

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.