Prima BioMed (NASDAQ:IMMP) Shares Pass Below Fifty Day Moving Average - What's Next?

Key Points

• Prima BioMed Ltd's stock price has fallen below its 50-day moving average of $1.73, trading as low as $1.67 recently.
• Wall Street Zen has downgraded Prima BioMed's rating from "hold" to "sell", indicating negative sentiment about the stock.
• Institutional investors, including Jane Street Group, have recently increased their holdings, with 2.32% of the stock currently owned by institutional investors.

Prima BioMed Ltd (NASDAQ:IMMP - Get Free Report) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.73 and traded as low as $1.67. Prima BioMed shares last traded at $1.72, with a volume of 62,249 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Prima BioMed from a "hold" rating to a "sell" rating in a report on Saturday, June 14th.

Prima BioMed Stock Up 1.2%

The business's 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. OLD Mission Capital LLC purchased a new stake in shares of Prima BioMed in the fourth quarter valued at about $36,000. Two Sigma Securities LLC acquired a new stake in shares of Prima BioMed in the fourth quarter worth $74,000. Finally, Jane Street Group LLC increased its position in shares of Prima BioMed by 14.7% in the first quarter. Jane Street Group LLC now owns 51,574 shares of the biotechnology company's stock worth $91,000 after acquiring an additional 6,617 shares in the last quarter. 2.32% of the stock is currently owned by institutional investors and hedge funds.

About Prima BioMed

Immutep Limited, a clinical-stage biotechnology company, engages in developing novel LAG-3 Immunotherapy for cancer and autoimmune diseases. The company is involved in advancing therapeutics related to Lymphocyte Activation Gene-3 (LAG-3), a cell surface molecule that plays a vital role in regulating the immune system.