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

Prima BioMed (NASDAQ:IMMP) was downgraded by Citizens Jmp from an “outperform” rating to a “market perform” rating in a research note issued on Friday, MarketBeat.com reports.

Several other equities analysts have also recently commented on IMMP. 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 research report on Saturday, February 14th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $5.50.

Prima BioMed Stock Down 80.9%

Shares of NASDAQ IMMP traded down $2.23 during mid-day trading on Friday, reaching $0.53. The company had a trading volume of 26,476,771 shares, compared to its average volume of 670,710. The business’s 50-day simple moving average is $2.85 and its 200 day simple moving average is $2.29. Prima BioMed has a one year low of $0.46 and a one year high of $3.53.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC lifted its position in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period. 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.