Prima BioMed (NASDAQ:IMMP) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp started coverage on shares of Prima BioMed (NASDAQ:IMMP) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued a market outperform rating and a $6.00 price objective on the biotechnology company’s stock.

Several other research firms also recently commented on IMMP. Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Prima BioMed currently has an average rating of “Hold” and an average price target of $6.00.

Prima BioMed Stock Performance

Shares of IMMP opened at $2.77 on Tuesday. The company has a 50-day moving average price of $2.86 and a two-hundred day moving average price of $2.18. Prima BioMed has a 12 month low of $1.32 and a 12 month high of $3.53.

Institutional Trading of Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC grew 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 SEC. The institutional investor owned 51,574 shares of the biotechnology company’s stock after buying 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 reporting period. 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.