Immutep (NASDAQ:IMMP) Shares Pass Below 50-Day Moving Average – What’s Next?

Immutep Limited (NASDAQ:IMMP)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.03 and traded as low as $1.93. Immutep shares last traded at $1.94, with a volume of 47,604 shares.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their target price on shares of Immutep from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

Immutep Stock Performance

The company has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $2.10. The company has a current ratio of 18.25, a quick ratio of 18.25 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IMMP. XTX Topco Ltd bought a new stake in shares of Immutep in the 2nd quarter worth about $26,000. XY Capital Ltd raised its position in Immutep by 108.3% in the 3rd quarter. XY Capital Ltd now owns 108,349 shares of the biotechnology company’s stock worth $239,000 after purchasing an additional 56,344 shares during the period. Finally, Meridian Wealth Management LLC lifted its stake in Immutep by 4.5% in the third quarter. Meridian Wealth Management LLC now owns 398,450 shares of the biotechnology company’s stock worth $881,000 after purchasing an additional 17,250 shares during the last quarter. Institutional investors own 2.32% of the company’s stock.

About Immutep

Immutep Limited, a clinical-stage biotechnology company, engages in developing novel LAG-3 Immunotherapy for cancer and autoimmune diseases. The company is involved in advancing therapeutics related to Lymphocyte Activation Gene-3 (LAG-3), a cell surface molecule that plays a vital role in regulating the immune system.