Prima BioMed (NASDAQ:IMMP) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Prima BioMed Ltd (NASDAQ:IMMP) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.23 and traded as low as $0.3457. Prima BioMed shares last traded at $0.35, with a volume of 569,959 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on IMMP. Citizens Jmp downgraded Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Wall Street Zen raised Prima BioMed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Maxim Group cut Prima BioMed from a “buy” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Robert W. Baird downgraded Prima BioMed from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $1.00 in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $5.50.

Prima BioMed Trading Up 5.4%

The firm’s fifty day moving average is $2.13 and its 200-day moving average is $2.18.

Prima BioMed (NASDAQ:IMMP) last announced its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share for the quarter. The business had revenue of $1.37 million during the quarter. As a group, analysts predict that Prima BioMed Ltd will post -0.4 EPS for the current fiscal year.

Institutional Trading of Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC boosted its stake in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,574 shares of the biotechnology company’s stock after buying an additional 6,617 shares during the quarter. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 as of its most recent filing with the Securities and Exchange Commission. 2.32% of the stock is currently owned by 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.