Prima BioMed (NASDAQ:IMMP) Downgraded to Sell Rating by Wall Street Zen

Prima BioMed (NASDAQ:IMMP) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prima BioMed has an average rating of “Sell”.

Prima BioMed Trading Up 7.8%

NASDAQ IMMP traded up $0.23 on Friday, reaching $3.17. The company had a trading volume of 345,675 shares, compared to its average volume of 192,911. Prima BioMed has a 52 week low of $1.32 and a 52 week high of $3.53. The stock’s 50 day moving average is $2.54 and its 200-day moving average is $2.04.

Institutional Investors Weigh In On Prima BioMed

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 filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,574 shares of the biotechnology company’s stock after purchasing 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 quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.

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.