Prima BioMed (NASDAQ:IMMP) Raised to Buy at Maxim Group

Prima BioMed (NASDAQ:IMMP) was upgraded by investment analysts at Maxim Group from a “hold” rating to a “buy” rating in a report issued on Wednesday,Benzinga reports.

Several other research analysts also recently weighed in on the stock. Robert W. Baird downgraded shares of Prima BioMed from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $1.00 in a report on Friday, March 13th. Citizens Jmp lowered Prima BioMed from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. Finally, Wall Street Zen raised Prima BioMed to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.50.

Prima BioMed Trading Up 1.9%

NASDAQ:IMMP traded up $0.01 during trading hours on Wednesday, reaching $0.36. The company had a trading volume of 117,953 shares, compared to its average volume of 8,308,912. Prima BioMed has a twelve month low of $0.29 and a twelve month high of $3.53. The business’s 50-day simple moving average is $0.45 and its two-hundred day simple moving average is $1.66.

Hedge Funds Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC lifted its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to its most recent disclosure 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 quarter. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 at the end of the most recent quarter. 2.32% of the stock is currently owned by institutional investors.

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.