Prima BioMed Ltd (PBMD) Trading 15.2% Higher

Shares of Prima BioMed Ltd (NASDAQ:PBMD) traded up 15.2% during trading on Tuesday . The stock traded as high as $2.81 and last traded at $2.57. 914,213 shares traded hands during mid-day trading, an increase of 634% from the average session volume of 124,477 shares. The stock had previously closed at $2.23.

Separately, Maxim Group restated a “buy” rating and issued a $7.00 target price on shares of Prima BioMed in a research note on Thursday, August 31st.

The company’s market capitalization is $62.49 million. The company’s 50 day moving average is $1.78 and its 200 day moving average is $2.08.

An institutional investor recently bought a new position in Prima BioMed stock. Sabby Management LLC acquired a new position in Prima BioMed Ltd (NASDAQ:PBMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 962,835 shares of the biotechnology company’s stock, valued at approximately $1,993,000. Sabby Management LLC owned 4.08% of Prima BioMed as of its most recent SEC filing. 4.45% of the stock is owned by institutional investors and hedge funds.

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Prima BioMed Company Profile

Prima BioMed Ltd is a biotechnology company. The Company is engaged in research, development and commercialization of licensed medical biotechnology. It is also focused on development of immunotherapeutic products. The Company operates through Cancer Immunotherapy segment. Its core technologies are based on the Lymphocyte-activation gene 3 (LAG-3) immune control mechanism, which is involved in regulation of the T cell immune response.

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