Immutep (NASDAQ:IMMP) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Immutep Limited (NASDAQ:IMMP) shares 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 changing hands.

Analysts Set New Price Targets

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

Immutep Price Performance

The firm has a 50 day moving average price of $2.28 and a 200-day moving average price of $2.40.

Institutional Investors Weigh In On Immutep

Several institutional investors have recently added to or reduced their stakes in IMMP. XTX Topco Ltd purchased a new stake in Immutep during the second quarter worth approximately $26,000. BNP Paribas Financial Markets lifted its stake in Immutep by 15.4% during the first quarter. BNP Paribas Financial Markets now owns 35,300 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 4,700 shares during the last quarter. XY Capital Ltd purchased a new stake in Immutep during the second quarter worth approximately $105,000. Virtu Financial LLC lifted its stake in 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. Finally, Oracle Investment Management Inc. lifted its stake in Immutep by 9.4% during the first quarter. Oracle Investment Management Inc. now owns 564,879 shares of the biotechnology company’s stock worth $1,316,000 after purchasing an additional 48,449 shares during the last quarter. Hedge funds and other 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.