Immutep Limited (NASDAQ:IMMP) Sees Significant Increase in Short Interest

Immutep Limited (NASDAQ:IMMP) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 4,180,000 shares, an increase of 6.6% from the May 31st total of 3,920,000 shares. Based on an average trading volume of 247,200 shares, the short-interest ratio is presently 16.9 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMMP. Capital One Financial started coverage on shares of Immutep in a research note on Friday, May 17th. They issued an “overweight” rating and a $10.00 target price on the stock. Robert W. Baird cut their price objective on Immutep from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, June 27th.

Institutional Trading of Immutep

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meridian Wealth Management LLC raised its holdings 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 valued at $774,000 after buying an additional 11,250 shares during the last quarter. 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 valued at $105,000 after purchasing an additional 32,864 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings 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 buying an additional 4,700 shares in the last quarter. Oracle Investment Management Inc. grew its position in Immutep by 9.4% in the first quarter. Oracle Investment Management Inc. now owns 564,879 shares of the biotechnology company’s stock worth $1,316,000 after buying an additional 48,449 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Immutep in the first quarter valued at $119,000. 2.32% of the stock is currently owned by institutional investors and hedge funds.

Immutep Stock Down 6.5 %

Shares of NASDAQ:IMMP opened at $1.88 on Wednesday. Immutep has a fifty-two week low of $1.58 and a fifty-two week high of $3.34. The firm has a 50-day simple moving average of $2.73 and a 200 day simple moving average of $2.51.

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.