Prima BioMed Ltd (NASDAQ:IMMP) Sees Significant Decrease in Short Interest

Prima BioMed Ltd (NASDAQ:IMMP) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 46,784 shares, a drop of 95.2% from the September 15th total of 971,238 shares. Based on an average trading volume of 23,076 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.7% of the company’s shares are short sold.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Prima BioMed from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Maxim Group raised shares of Prima BioMed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prima BioMed in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Prima BioMed currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Prima BioMed Price Performance

Shares of NASDAQ:IMMP opened at $3.63 on Friday. Prima BioMed has a 12-month low of $3.55 and a 12-month high of $70.60. The business has a 50-day moving average price of $6.60 and a 200 day moving average price of $7.80.

Prima BioMed (NASDAQ:IMMP) last posted its earnings results on Thursday, July 30th. The biotechnology company reported ($1.80) EPS for the quarter. The business had revenue of $3.68 million for the quarter.

Prima BioMed Company Profile

Prima BioMed Limited was an Australian biotechnology company focused on developing immunotherapies for cancer and other serious diseases. The company’s research centered on treatments designed to activate or enhance the immune system’s ability to recognize and attack abnormal cells.

Its principal programs included LAG-3–targeted therapies, including IMP321, later known as eftilagimod alpha or efti, an investigational soluble LAG-3 protein intended to stimulate immune responses when used alone or in combination with other cancer treatments.