Overnight Market report, page-1791

I took a look over the weekend at what happened last reported quarter (to 31 March) with large institutional holders of the US ADRs (ticker IMMP).

Two notable changes: the selldown by Artal of its entire holding during the first three months of this year (obviously at a significant loss). And to a lesser extent, the arrival of Citadel on the register.



Recall that every IMMP ADR represents 10 IMM shares, so Artal offloaded the equivalent of 10 million ordinary shares in Jan/Feb/Mar. These were transacted on Nasdaq not ASX, though each market affects the other.

Imo, a methodical Artal selldown could easily have been the handbrake on us, and now Citadel could well be the creator of some of the more recent SP volatility, as is their style/reputation.

Data for the past 9 weeks is of course not available until after the next rounding of filings in the US, at the end of the current quarter. These filings might prove to be even more interesting especially after last week, and depending on what else occurs with Immutep between now and the end of June.

The US held up on Friday night, the next couple of nights trade will be interesting, hopefully we have a new floor and further gains to the upside.