Immunocore (NASDAQ:IMCR) Sees Large Volume Increase – Should You Buy?

Shares of Immunocore Holdings plc (NASDAQ:IMCR) saw an uptick in trading volume on Wednesday . 578,584 shares changed hands during mid-day trading, an increase of 100% from the previous session’s volume of 288,801 shares.The stock last traded at $29.03 and had previously closed at $28.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IMCR shares. Guggenheim cut Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. Morgan Stanley restated an “equal weight” rating and set a $35.00 price target (down from $74.00) on shares of Immunocore in a research report on Friday, December 13th. UBS Group started coverage on Immunocore in a research report on Thursday, October 24th. They issued a “sell” rating and a $24.00 price objective for the company. Mizuho cut shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $38.00 in a report on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Down 0.3 %

The company’s fifty day simple moving average is $30.86 and its 200 day simple moving average is $33.63. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.45 billion, a PE ratio of -30.55 and a beta of 0.76.

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

Institutional Trading of Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the business. Armistice Capital LLC boosted its stake in Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after acquiring an additional 812,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after purchasing an additional 668,382 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Immunocore by 26.7% in the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after purchasing an additional 520,950 shares in the last quarter. Millennium Management LLC boosted its position in shares of Immunocore by 124.4% in the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after purchasing an additional 333,167 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Immunocore by 65.6% in the 3rd quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after buying an additional 300,200 shares during the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

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.