Prima BioMed (NASDAQ:IMMP) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Prima BioMed Ltd (NASDAQ:IMMP)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.80 and traded as low as $2.68. Prima BioMed shares last traded at $2.79, with a volume of 102,305 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on IMMP shares. Wall Street Zen downgraded shares of Prima BioMed from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Prima BioMed Stock Performance

The stock has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $2.15.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC grew its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,574 shares of the biotechnology company’s stock after buying 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.