Prima BioMed (NASDAQ:IMMP) Downgraded by Maxim Group to Hold

Maxim Group lowered shares of Prima BioMed (NASDAQ:IMMP) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat reports.

IMMP has been the topic of several other research reports. Wall Street Zen raised shares of Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Citizens Jmp downgraded shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Finally, Robert W. Baird cut shares of Prima BioMed from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $1.00 in a research note on Friday. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Prima BioMed has a consensus rating of “Reduce” and an average price target of $5.50.

Prima BioMed Stock Performance

IMMP opened at $0.48 on Friday. Prima BioMed has a twelve month low of $0.46 and a twelve month high of $3.53. The company has a 50-day moving average price of $2.80 and a 200 day moving average price of $2.29.

Prima BioMed (NASDAQ:IMMP) last posted its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.36 million during the quarter. As a group, equities analysts forecast that Prima BioMed will post -0.4 EPS for the current fiscal year.

Institutional Trading of Prima BioMed

A hedge fund recently raised its stake in Prima BioMed stock. Jane Street Group LLC grew its position in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 2.32% of the stock is owned by hedge funds and other institutional investors.

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.