Prima BioMed (NASDAQ:IMMP) Earns Mkt Outperform Rating from Analysts at Citizens Jmp

Stock analysts at Citizens Jmp initiated coverage on shares of Prima BioMed (NASDAQ:IMMP) in a research report issued to clients and investors on Tuesday. The firm set a “mkt outperform” rating and a $6.00 price target on the biotechnology company’s stock. Citizens Jmp’s price target would suggest a potential upside of 127.27% from the company’s previous close.

IMMP has been the topic of a number of other research reports. Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Prima BioMed currently has a consensus rating of “Sell” and a consensus target price of $6.00.

Prima BioMed Trading Down 3.6%

Shares of Prima BioMed stock opened at $2.64 on Tuesday. Prima BioMed has a 1 year low of $1.32 and a 1 year high of $3.53. The company has a 50 day simple moving average of $2.85 and a two-hundred day simple moving average of $2.17.

Hedge Funds Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC grew its stake in shares of 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 SEC. The firm owned 51,574 shares of the biotechnology company’s stock after purchasing 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. 2.32% of the stock is 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.