Prima BioMed (NASDAQ:IMMP) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of Prima BioMed Ltd (NASDAQ:IMMP) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.23 and traded as low as $0.3457. Prima BioMed shares last traded at $0.35, with a volume of 569,959 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on IMMP shares. Maxim Group downgraded shares of Prima BioMed from a “buy” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Robert W. Baird downgraded shares of Prima BioMed from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $1.00 in a research report on Friday, March 13th. Citizens Jmp cut Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Finally, Wall Street Zen raised Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.50.

Prima BioMed Stock Down 0.7%

The business’s fifty day moving average price is $2.23 and its 200 day moving average price is $2.20.

Prima BioMed (NASDAQ:IMMP) last announced its quarterly earnings results on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.37 million for the quarter. On average, equities research analysts forecast that Prima BioMed Ltd will post -0.4 EPS for the current fiscal year.

Institutional Trading of Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC lifted its stake in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to 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 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.

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.