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

Wall Street Zen lowered shares of Prima BioMed (NASDAQ:IMMP) from a hold rating to a sell rating in a report issued on Friday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Prima BioMed Trading Up 7.8%

IMMP opened at $3.17 on Friday. The stock has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.04. Prima BioMed has a 12-month low of $1.32 and a 12-month high of $3.53.

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% during the first quarter, according to its most recent 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 SEC filing. 2.32% of the stock is currently owned by institutional investors and hedge funds.

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.