Prima BioMed Sees Unusually Large Options Volume (NASDAQ:IMMP)

Prima BioMed Ltd (NASDAQ:IMMP) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 8,815 call options on the stock. This is an increase of approximately 4,515% compared to the average daily volume of 191 call options.

Prima BioMed Price Performance

NASDAQ IMMP traded up $0.29 during mid-day trading on Wednesday, reaching $0.60. 624,611,937 shares of the stock were exchanged, compared to its average volume of 10,500,978. Prima BioMed has a one year low of $0.29 and a one year high of $3.53. The stock has a 50 day simple moving average of $1.65 and a 200-day simple moving average of $2.09.

Prima BioMed (NASDAQ:IMMP) last announced its earnings results on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share for the quarter. The company had revenue of $1.37 million for the quarter. On average, sell-side analysts forecast that Prima BioMed will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC boosted its stake in Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the first 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 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. 2.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IMMP has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Prima BioMed in a research note on Monday, December 29th. Maxim Group downgraded shares of Prima BioMed from a “buy” rating to a “hold” rating in a research note on Friday, March 13th. Robert W. Baird downgraded shares of Prima BioMed from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $1.00 in a research note on Friday, March 13th. Wall Street Zen raised shares of Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Citizens Jmp downgraded shares of Prima BioMed from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.50.

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.