Prima BioMed (NASDAQ:IMMP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Prima BioMed (NASDAQ:IMMP) from a hold rating to a sell rating in a research note published on Sunday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Prima BioMed Price Performance

NASDAQ IMMP opened at $2.95 on Friday. Prima BioMed has a 1-year low of $1.32 and a 1-year high of $3.53. The stock has a 50-day moving average of $2.04 and a 200-day moving average of $1.83.

Institutional Investors Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC lifted its holdings in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company’s stock after acquiring 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. 2.32% of the stock is currently owned by hedge funds and other 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.