Citizens Jmp Downgrades Prima BioMed (NASDAQ:IMMP) to Market Perform

Prima BioMed (NASDAQ:IMMP) was downgraded by equities research analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat Ratings reports.

A number of other research firms have also commented on IMMP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.50.

Prima BioMed Trading Down 82.6%

Shares of IMMP opened at $0.48 on Friday. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $2.29. Prima BioMed has a 52-week low of $0.46 and a 52-week high of $3.53.

Prima BioMed (NASDAQ:IMMP) last released its quarterly earnings results on Friday, January 30th. The biotechnology company reported ($0.10) EPS for the quarter. The business had revenue of $1.36 million for the quarter. As a group, sell-side analysts predict that Prima BioMed will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC lifted its stake in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,574 shares of the biotechnology company’s stock after purchasing an additional 6,617 shares during the quarter. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 as of its most recent filing with the Securities & Exchange Commission. 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.