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

Shares of Immutep Limited (NASDAQ:IMMP) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.27 and traded as low as $2.04. Immutep shares last traded at $2.08, with a volume of 92,980 shares traded.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped 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 Trading Down 0.7 %

The stock has a fifty day simple moving average of $2.27 and a 200-day simple moving average of $2.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Immutep in the 2nd quarter valued at about $26,000. XY Capital Ltd acquired a new position in shares of Immutep during the 2nd quarter worth approximately $105,000. Virtu Financial LLC raised its holdings in Immutep by 269.4% in the 1st quarter. Virtu Financial LLC now owns 45,062 shares of the biotechnology company’s stock valued at $105,000 after acquiring 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 acquiring an additional 48,449 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Immutep by 15.4% in 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 during the last quarter. 2.32% of the stock is currently 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.