Prima BioMed Ltd (NASDAQ:IMMP – Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 6,260,438 shares, an increase of 401.8% from the April 15th total of 1,247,590 shares. Approximately 4.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,730,661 shares, the short-interest ratio is currently 0.7 days.
Institutional Investors Weigh In On Prima BioMed
An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC lifted its position in Prima BioMed Ltd (NASDAQ:IMMP – Free Report) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,574 shares of the biotechnology company’s stock after acquiring 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. Institutional investors own 2.32% of the company’s stock.
Prima BioMed Stock Performance
Shares of NASDAQ:IMMP traded up $0.02 during trading hours on Friday, hitting $0.47. 380,906 shares of the company’s stock traded hands, compared to its average volume of 10,155,906. Prima BioMed has a 52 week low of $0.29 and a 52 week high of $3.53. The company’s fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $1.89.
Wall Street Analyst Weigh In
IMMP has been the subject of a number of research analyst reports. Robert W. Baird lowered shares of Prima BioMed from an “outperform” rating to a “neutral” rating and reduced their price target 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 report on Friday, March 13th. Maxim Group downgraded Prima BioMed from a “buy” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Wall Street Zen raised Prima BioMed to a “hold” rating in a research note on Saturday, April 18th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.50.
Check Out Our Latest Analysis on IMMP
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.
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