Prima BioMed Ltd (NASDAQ:IMMP) Short Interest Up 401.8% in April

Prima BioMed Ltd (NASDAQ:IMMP) was the recipient of a large increase in short interest in 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 company’s stock are short sold. Based on an average trading volume of 8,730,661 shares, the days-to-cover ratio is currently 0.7 days.

Prima BioMed News Summary

Here are the key news stories impacting Prima BioMed this week:

• Negative Sentiment: Multiple law firms, including Rosen, Pomerantz, Schall, Bernstein Liebhard, Faruqi & Faruqi, Gross Law Firm, Levi & Korsinsky, Holzer & Holzer, and Bronstein, Gewirtz & Grossman, announced or reminded investors about a securities class action against Immutep Ltd. (IMMP), alleging false or misleading statements related to the TACTI-004 trial and encouraging shareholders with losses to seek legal counsel. Article Title
• Negative Sentiment: One lawsuit filing specifically alleges that Immutep’s executives, including its chief medical officer, overstated the viability of TACTI-004 before the trial was ended for futility, intensifying concerns about potential legal and reputational risk. Article Title
• Neutral Sentiment: Recent short-interest updates showed a sharp increase in short positioning in April, but the latest filing reported zero short interest, making the signal mixed and less clear for near-term trading. Article Title

Prima BioMed Stock Performance

Shares of Prima BioMed stock opened at $0.47 on Wednesday. The firm’s 50 day simple moving average is $0.85 and its two-hundred day simple moving average is $1.91. Prima BioMed has a 12-month low of $0.29 and a 12-month high of $3.53.

Prima BioMed (NASDAQ:IMMP) last posted its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) EPS for the quarter. The firm had revenue of $1.37 million for the quarter.

Institutional Trading of Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC grew its position in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,574 shares of the biotechnology company’s stock after purchasing an additional 6,617 shares during the period. 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.

Analyst Ratings Changes

Several equities research analysts have weighed in on IMMP shares. Citizens Jmp downgraded shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Wall Street Zen raised Prima BioMed to a “hold” rating in a research report on Saturday, April 18th. Maxim Group cut Prima BioMed from a “buy” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Robert W. Baird downgraded Prima BioMed from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $1.00 in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.50.

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.