Immutep (NASDAQ:IMMP) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Immutep Limited (NASDAQ:IMMP)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.99 and traded as high as $2.05. Immutep shares last traded at $1.95, with a volume of 104,357 shares trading hands.

Wall Street Analyst Weigh In

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

Immutep Price Performance

The company has a current ratio of 18.25, a quick ratio of 18.25 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $1.99 and its 200-day moving average price is $2.16.

Institutional Investors Weigh In On Immutep

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC grew its holdings in shares of Immutep by 4.5% during the 3rd 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 period. XY Capital Ltd boosted 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 valued at $239,000 after buying an additional 56,344 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Immutep in the second quarter worth $26,000. Institutional investors and hedge funds 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.