Prima BioMed Ltd (NASDAQ:IMMP - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.04 and traded as low as $0.4379. Prima BioMed shares last traded at $0.4424, with a volume of 743,667 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on IMMP. Robert W. Baird lowered shares of Prima BioMed from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $1.00 in a research note on Friday, March 13th. Maxim Group downgraded shares of Prima BioMed from a "buy" rating to a "hold" rating in a report on Friday, March 13th. Citizens Jmp downgraded shares of Prima BioMed from an "outperform" rating to a "market perform" rating in a report on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Prima BioMed to a "hold" rating in a report on Saturday, April 18th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Prima BioMed presently has an average rating of "Reduce" and an average price target of $5.50.
Get Our Latest Research Report on IMMP
Prima BioMed Stock Performance
The business's fifty day moving average price is $1.04 and its two-hundred day moving average price is $1.95.
Prima BioMed (NASDAQ:IMMP - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share for the quarter. The firm had revenue of $1.37 million for the quarter.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC increased its position in Prima BioMed Ltd (NASDAQ:IMMP - Free Report) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,574 shares of the biotechnology company's stock after acquiring 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 and hedge funds own 2.32% of the company's stock.
Prima BioMed Company Profile
(
Get Free Report)
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.
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