Prima BioMed (NASDAQ:IMMP) Downgraded to Hold Rating by Maxim Group

Prima BioMed (NASDAQ:IMMP) was downgraded by stock analysts at Maxim Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other analysts also recently issued reports on the stock. Robert W. Baird downgraded shares of Prima BioMed from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $1.00 in a report on Friday. Citizens Jmp cut Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday. Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $5.50.

Prima BioMed Stock Down 80.7%

Shares of IMMP stock traded down $2.23 during trading on Friday, hitting $0.53. The company had a trading volume of 37,118,296 shares, compared to its average volume of 995,384. The stock’s 50-day moving average is $2.85 and its two-hundred day moving average is $2.29. Prima BioMed has a 52 week low of $0.46 and a 52 week high of $3.53.

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

Institutional Trading of Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC raised its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.