Short Interest in Immutep Limited (NASDAQ:IMMP) Increases By 6.2%

Immutep Limited (NASDAQ:IMMP) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 4,440,000 shares, an increase of 6.2% from the June 15th total of 4,180,000 shares. Based on an average daily volume of 296,400 shares, the days-to-cover ratio is currently 15.0 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IMMP shares. Capital One Financial started coverage on shares of Immutep in a research report on Friday, May 17th. They set an “overweight” rating and a $10.00 price target on the stock. Robert W. Baird lowered their price target on shares of Immutep from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, June 27th.

Immutep Stock Performance

IMMP stock opened at $2.03 on Wednesday. Immutep has a fifty-two week low of $1.58 and a fifty-two week high of $3.34. The company’s 50 day moving average price is $2.59 and its 200 day moving average price is $2.49.

Hedge Funds Weigh In On Immutep

Several hedge funds have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC grew its position in shares of Immutep by 3.6% during the fourth quarter. Meridian Wealth Management LLC now owns 322,450 shares of the biotechnology company’s stock worth $774,000 after acquiring an additional 11,250 shares during the last quarter. PFG Investments LLC purchased a new position in Immutep in the 1st quarter valued at $119,000. BNP Paribas Financial Markets grew its position 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 buying an additional 4,700 shares during the last quarter. Oracle Investment Management Inc. grew its position 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 buying an additional 48,449 shares during the last quarter. Finally, Virtu Financial LLC grew its position 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 buying an additional 32,864 shares during the last quarter. 2.32% of the stock is currently owned by hedge funds and other institutional investors.

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.