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

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

Institutional Investors Weigh In On Immutep

Several large investors have recently made changes to their positions in the stock. Oracle Investment Management Inc. increased its position in shares of 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 acquiring an additional 48,449 shares in the last quarter. Meridian Wealth Management LLC grew its position in Immutep by 3.6% in the fourth quarter. Meridian Wealth Management LLC now owns 322,450 shares of the biotechnology company’s stock valued at $774,000 after purchasing an additional 11,250 shares in the last quarter. PFG Investments LLC bought a new position in Immutep in the first quarter valued at $119,000. Virtu Financial LLC grew its position in Immutep by 269.4% in 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Immutep by 15.4% in the first quarter. BNP Paribas Financial Markets now owns 35,300 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 4,700 shares in the last quarter. Institutional investors own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IMMP shares. 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 for the company. Robert W. Baird lowered their price objective on shares of Immutep from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, June 27th.

Immutep Price Performance

Shares of IMMP stock opened at $1.98 on Friday. The firm has a fifty day moving average of $2.72 and a 200-day moving average of $2.51. Immutep has a 12-month low of $1.58 and a 12-month high of $3.34.

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.