Prima BioMed Ltd (NASDAQ:IMMP – Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 1,195,547 shares, a decline of 44.4% from the July 15th total of 2,150,202 shares. Based on an average daily volume of 219,590 shares, the short-interest ratio is presently 5.4 days. Approximately 0.8% of the company’s stock are short sold.
Prima BioMed Price Performance
NASDAQ IMMP traded up $0.00 during mid-day trading on Monday, reaching $0.38. 49,858 shares of the company’s stock traded hands, compared to its average volume of 6,132,723. Prima BioMed has a 1-year low of $0.29 and a 1-year high of $3.53. The company has a fifty day simple moving average of $0.40 and a 200-day simple moving average of $0.97.
Analyst Ratings Changes
IMMP has been the subject of a number of recent analyst reports. Maxim Group raised shares of Prima BioMed from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.50.
Institutional Trading of Prima BioMed
An institutional investor recently raised its stake in Prima BioMed stock. Jane Street Group LLC raised its position in shares of Prima BioMed Ltd (NASDAQ:IMMP – Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter. 2.32% of the stock is currently owned by institutional investors.
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.
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