Prima BioMed (NASDAQ:IMMP) Rating Lowered to Hold at Maxim Group

Prima BioMed (NASDAQ:IMMP) was downgraded by investment analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat.com reports.

Other analysts have also issued research reports about the stock. Citizens Jmp lowered shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Robert W. Baird cut Prima BioMed from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $1.00 in a research note on Friday. Finally, Wall Street Zen upgraded Prima BioMed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prima BioMed currently has an average rating of “Reduce” and a consensus target price of $5.50.

Prima BioMed Stock Performance

Prima BioMed stock opened at $0.48 on Friday. The company has a 50-day moving average price of $2.80 and a 200 day moving average price of $2.29. Prima BioMed has a 12-month low of $0.46 and a 12-month high of $3.53.

Prima BioMed (NASDAQ:IMMP) last posted its earnings results on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share for the quarter. The business had revenue of $1.36 million for the quarter. On average, equities research analysts expect that Prima BioMed will post -0.4 earnings per share 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 grew its holdings in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 51,574 shares of the biotechnology company’s stock after acquiring 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. 2.32% of the stock is currently owned by hedge funds and other 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.