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

Citizens Jmp cut shares of Prima BioMed (NASDAQ:IMMP) from an outperform rating to a market perform rating in a report released on Friday, MarketBeat Ratings reports.

IMMP has been the topic of several other reports. Wall Street Zen upgraded shares of Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Prima BioMed currently has an average rating of “Reduce” and a consensus price target of $5.50.

Prima BioMed Price Performance

IMMP stock opened at $0.48 on Friday. Prima BioMed has a 52-week low of $0.46 and a 52-week high of $3.53. The business has a fifty day moving average of $2.80 and a two-hundred day moving average of $2.29.

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

Institutional Investors Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC increased 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 and Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company’s stock after acquiring 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 quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.

About Prima BioMed

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.