Prima BioMed (NASDAQ:IMMP) Downgraded by Wall Street Zen to “Sell”

Prima BioMed (NASDAQ:IMMP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Prima BioMed Stock Up 7.8%

Shares of IMMP stock traded up $0.23 during trading hours on Friday, hitting $3.17. 345,675 shares of the company were exchanged, compared to its average volume of 192,911. Prima BioMed has a 52 week low of $1.32 and a 52 week high of $3.53. The business has a 50 day moving average of $2.54 and a two-hundred day moving average of $2.04.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC boosted its holdings in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.32% of the company’s stock.

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.