Prima BioMed Ltd (NASDAQ:PBMD) saw a large decline in short interest in the month of April. As of April 28th, there was short interest totalling 152,246 shares, a decline of 6.5% from the April 13th total of 162,796 shares. Based on an average daily trading volume, of 31,970 shares, the days-to-cover ratio is presently 4.8 days.

Prima BioMed (NASDAQ:PBMD) traded up 1.24% during trading on Wednesday, hitting $2.44. 52,655 shares of the stock were exchanged. The stock’s 50 day moving average is $2.45 and its 200-day moving average is $1.97. Prima BioMed has a one year low of $1.70 and a one year high of $3.93. The company’s market cap is $50.58 million.

Several brokerages have issued reports on PBMD. HC Wainwright set a $8.00 price objective on shares of Prima BioMed and gave the company a “buy” rating in a research note on Tuesday, February 28th. Zacks Investment Research cut shares of Prima BioMed from a “buy” rating to a “sell” rating in a research note on Friday, January 27th. Finally, FBR & Co reissued a “buy” rating and issued a $6.00 price objective on shares of Prima BioMed in a research note on Tuesday, January 24th. Five research analysts have rated the stock with a buy rating, Prima BioMed presently has an average rating of “Buy” and a consensus target price of $5.95.

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About Prima BioMed

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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