Prima BioMed (NASDAQ:IMMP) Stock Rating Upgraded by Maxim Group

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

Several other brokerages have also weighed in on IMMP. Robert W. Baird lowered Prima BioMed from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $1.00 in a report on Friday, March 13th. Wall Street Zen raised Prima BioMed to a “hold” rating in a research report on Saturday, April 18th. Finally, Citizens Jmp cut Prima BioMed from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.50.

Prima BioMed Price Performance

Shares of NASDAQ:IMMP traded up $0.01 during midday trading on Wednesday, reaching $0.36. The company had a trading volume of 117,953 shares, compared to its average volume of 8,308,912. The company’s 50 day moving average price is $0.45 and its 200 day moving average price is $1.66. Prima BioMed has a 52-week low of $0.29 and a 52-week high of $3.53.

Institutional Inflows and Outflows

An institutional investor recently raised its position 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 its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company’s stock after buying 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.