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

Immutep Limited (NASDAQ:IMMP) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.01 and traded as low as $1.87. Immutep shares last traded at $1.89, with a volume of 67,807 shares traded.

Wall Street Analysts Forecast Growth

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

Immutep Trading Down 1.6 %

The company has a quick ratio of 18.25, a current ratio of 18.25 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $2.01 and its 200-day moving average is $2.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMMP. 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 valued at $881,000 after buying an additional 17,250 shares during the period. Fortitude Advisory Group L.L.C. acquired a new position in shares of Immutep during the 4th quarter valued at $28,000. ABC Arbitrage SA acquired a new position in shares of Immutep during the 4th quarter valued at $152,000. XY Capital Ltd lifted its position in shares of Immutep by 52.0% during the 4th quarter. XY Capital Ltd now owns 164,655 shares of the biotechnology company’s stock valued at $357,000 after acquiring an additional 56,306 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in shares of Immutep during the 4th quarter valued at $74,000. 2.32% of the stock is owned by institutional investors and hedge funds.

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.