Prima BioMed (NASDAQ:IMMP) Research Coverage Started at Citizens Jmp

Citizens Jmp began coverage on shares of Prima BioMed (NASDAQ:IMMP) in a research note released on Tuesday morning, Marketbeat reports. The firm issued a market outperform rating and a $6.00 price objective on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Prima BioMed has an average rating of “Hold” and an average price target of $6.00.

Prima BioMed Stock Performance

Shares of NASDAQ IMMP opened at $2.86 on Tuesday. Prima BioMed has a 1-year low of $1.32 and a 1-year high of $3.53. The business has a fifty day moving average price of $2.87 and a 200 day moving average price of $2.19.

Hedge Funds Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC lifted its position in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,574 shares of the biotechnology company’s stock after purchasing 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 SEC filing. Hedge funds and other institutional investors own 2.32% of the company’s stock.

About Prima BioMed

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.