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

Wall Street Zen downgraded shares of Prima BioMed (NASDAQ:IMMP) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Prima BioMed Stock Performance

Shares of IMMP opened at $3.17 on Friday. The company’s fifty day moving average is $2.54 and its 200-day moving average is $2.05. Prima BioMed has a 12 month low of $1.32 and a 12 month high of $3.53.

Institutional Investors Weigh In On Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC boosted its stake in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.