Prima BioMed Ltd (NASDAQ:IMMP) Short Interest Update

Prima BioMed Ltd (NASDAQ:IMMP) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 1,195,547 shares, a decrease of 44.4% from the July 15th total of 2,150,202 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 219,590 shares, the days-to-cover ratio is currently 5.4 days.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Prima BioMed stock. Jane Street Group LLC increased its stake in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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. 2.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Maxim Group raised Prima BioMed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prima BioMed in a research report on Friday, July 10th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

Prima BioMed Price Performance

Shares of IMMP stock traded up $0.01 on Tuesday, hitting $0.40. 108,115 shares of the company’s stock traded hands, compared to its average volume of 6,093,218. Prima BioMed has a one year low of $0.29 and a one year high of $3.53. The company’s fifty day simple moving average is $0.40 and its 200 day simple moving average is $0.95.

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.