Prima BioMed (NASDAQ:IMMP) Stock Rating Upgraded by Wall Street Zen

Prima BioMed (NASDAQ:IMMP) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Maxim Group cut Prima BioMed from a “buy” rating to a “hold” rating in a research note on Friday, March 13th. Robert W. Baird cut Prima BioMed from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $1.00 in a research note 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, Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prima BioMed has an average rating of “Reduce” and an average target price of $5.50.

Prima BioMed Stock Performance

Shares of IMMP opened at $0.58 on Friday. The stock has a 50-day simple moving average of $1.53 and a 200-day simple moving average of $2.07. Prima BioMed has a 1 year low of $0.29 and a 1 year high of $3.53.

Prima BioMed (NASDAQ:IMMP) last announced its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $1.37 million during the quarter. As a group, equities analysts predict that Prima BioMed will post -0.4 earnings per share 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 increased its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. Institutional investors 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.