Immunocore (NASDAQ:IMCR) Shares Up 6.1% – Here’s Why

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price shot up 6.1% during mid-day trading on Thursday . The stock traded as high as $32.62 and last traded at $32.90. 87,754 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 281,767 shares. The stock had previously closed at $31.02.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IMCR. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $71.00 price objective on shares of Immunocore in a report on Friday, January 10th. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $38.00 in a report on Monday, November 11th. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price target (down from $74.00) on shares of Immunocore in a research note on Friday, December 13th. Finally, Guggenheim cut shares of Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Trading Up 0.9 %

The stock has a market capitalization of $1.65 billion, a P/E ratio of -34.74 and a beta of 0.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The business’s 50 day simple moving average is $30.53 and its 200-day simple moving average is $33.40.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. The firm had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the firm earned ($0.59) earnings per share. As a group, analysts forecast that Immunocore Holdings plc will post -0.94 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its position in shares of Immunocore by 40.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after acquiring an additional 1,461 shares during the period. Connective Portfolio Management LLC bought a new position in shares of Immunocore in the 3rd quarter valued at about $218,000. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after acquiring an additional 3,053 shares during the period. XTX Topco Ltd bought a new position in shares of Immunocore in the 2nd quarter valued at about $303,000. Finally, GSA Capital Partners LLP bought a new position in shares of Immunocore in the 3rd quarter valued at about $406,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Immunocore Company Profile

Immunocore Holdings plc, a commercial-stage biotechnology company, engages in the development of immunotherapies for the treatment of cancer, infectious, and autoimmune diseases. The company offers KIMMTRAK for the treatment of patients with unresectable or metastatic uveal melanoma. It also develops other programs for oncology, including tebentafusp that is in Phase 2/3 clinical trial to treat advanced cutaneous melanoma.