Prima BioMed Ltd (NASDAQ:IMMP – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.42 and traded as low as $0.3815. Prima BioMed shares last traded at $0.3889, with a volume of 310,698 shares changing hands.
Wall Street Analysts Forecast Growth
IMMP has been the topic of a number of research analyst reports. Maxim Group raised shares of Prima BioMed from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th. Wall Street Zen raised shares of Prima BioMed to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prima BioMed in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.
Check Out Our Latest Report on Prima BioMed
Prima BioMed Price Performance
Hedge Funds Weigh In On Prima BioMed
A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC lifted its position in Prima BioMed Ltd (NASDAQ:IMMP – Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent SEC filing. Institutional investors and hedge funds 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.
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