Immutep (NASDAQ:IMMP) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Immutep Limited (NASDAQ:IMMP) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.28 and traded as low as $1.91. Immutep shares last traded at $1.95, with a volume of 48,963 shares.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price target on Immutep from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, June 27th.

Immutep Trading Down 2.1 %

The firm’s fifty day moving average is $2.28 and its 200-day moving average is $2.39.

Institutional Trading of Immutep

A number of hedge funds and other institutional investors have recently modified their holdings of IMMP. BNP Paribas Financial Markets boosted its holdings in shares of Immutep by 15.4% during the 1st quarter. BNP Paribas Financial Markets now owns 35,300 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 4,700 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Immutep during the second quarter worth about $26,000. Virtu Financial LLC grew its holdings in shares of Immutep by 269.4% during the first quarter. Virtu Financial LLC now owns 45,062 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 32,864 shares during the last quarter. Oracle Investment Management Inc. raised its holdings in Immutep by 9.4% in the 1st quarter. Oracle Investment Management Inc. now owns 564,879 shares of the biotechnology company’s stock valued at $1,316,000 after buying an additional 48,449 shares during the last quarter. Finally, XY Capital Ltd acquired a new stake in Immutep during the 2nd quarter worth approximately $105,000. Institutional investors own 2.32% of the company’s stock.

Immutep Company Profile

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.