Prima BioMed (NASDAQ:IMMP) Shares Scheduled to Reverse Split on Monday, September 28th

Shares of Prima BioMed Ltd (NASDAQ:IMMP) are scheduled to reverse split before the market opens on Monday, September 28th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, September 27th.

Prima BioMed Stock Down 6.0%

Shares of IMMP opened at $0.27 on Thursday. Prima BioMed has a 1 year low of $0.26 and a 1 year high of $3.53. The stock has a 50 day simple moving average of $0.37 and a two-hundred day simple moving average of $0.49.

Prima BioMed (NASDAQ:IMMP) last posted its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.09) earnings per share for the quarter. The business had revenue of $3.68 million for the quarter.

Wall Street Analyst Weigh In

IMMP has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Prima BioMed from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Prima BioMed in a research report on Friday, July 10th. Finally, Maxim Group upgraded Prima BioMed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.50.

About Prima BioMed

Prima BioMed Limited was an Australian biotechnology company focused on developing novel 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 lead development program was eftilagimod alpha, also known as IMP321, a soluble LAG-3 protein intended to stimulate antigen-presenting cells and support broader immune responses. Prima BioMed evaluated the therapy in combination with existing cancer treatments, including chemotherapy and immune checkpoint inhibitors, across several solid-tumor indications.

The company conducted clinical-development activities internationally, including in Australia, Europe and the United States.