Immutep (NASDAQ:IMMP) Stock Passes Below Fifty Day Moving Average – What’s Next?

Immutep Limited (NASDAQ:IMMP)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.04 and traded as low as $1.90. Immutep shares last traded at $1.91, with a volume of 82,641 shares trading hands.

Wall Street Analyst Weigh In

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

Immutep Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 18.25 and a quick ratio of 18.25. The firm’s 50-day simple moving average is $2.04 and its 200 day simple moving average is $2.10.

Institutional Trading of Immutep

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMMP. XTX Topco Ltd acquired a new position in Immutep in the second quarter worth approximately $26,000. XY Capital Ltd grew its holdings in shares of 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 acquiring an additional 56,344 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Immutep by 4.5% during 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 period. 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.