Prima BioMed (NASDAQ:IMMP) Lowered to Market Perform Rating by Citizens Jmp

Prima BioMed (NASDAQ:IMMP) was downgraded by equities researchers at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Marketbeat Ratings reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.50.

Prima BioMed Stock Performance

Shares of NASDAQ:IMMP traded down $2.23 during midday trading on Friday, hitting $0.53. 26,476,771 shares of the stock were exchanged, compared to its average volume of 670,710. The business’s 50-day moving average price is $2.85 and its 200 day moving average price is $2.29. Prima BioMed has a 12 month low of $0.46 and a 12 month high of $3.53.

Prima BioMed (NASDAQ:IMMP) last issued its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.36 million for the quarter. Equities research analysts anticipate that Prima BioMed will post -0.4 earnings per share for the current year.

Institutional Trading of Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC raised its position in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 51,574 shares of the biotechnology company’s stock after purchasing an additional 6,617 shares during the quarter. 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.

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.