Short Interest in Immunocore Holdings plc (NASDAQ:IMCR) Declines By 7.0%

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 6,210,000 shares, a decrease of 7.0% from the May 31st total of 6,680,000 shares. Based on an average daily volume of 751,300 shares, the days-to-cover ratio is currently 8.3 days. Currently, 12.8% of the shares of the company are short sold.

Institutional Trading of Immunocore

Several institutional investors have recently made changes to their positions in IMCR. RTW Investments LP grew its holdings in Immunocore by 1.1% during the 3rd quarter. RTW Investments LP now owns 6,096,387 shares of the company’s stock valued at $316,402,000 after buying an additional 66,754 shares in the last quarter. Wellington Management Group LLP grew its holdings in Immunocore by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock valued at $294,638,000 after buying an additional 399,201 shares in the last quarter. Bellevue Group AG grew its holdings in Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock valued at $66,684,000 after buying an additional 956,204 shares in the last quarter. Fiera Capital Corp grew its holdings in Immunocore by 24.6% during the 4th quarter. Fiera Capital Corp now owns 846,787 shares of the company’s stock valued at $57,852,000 after buying an additional 166,988 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Immunocore by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 517,204 shares of the company’s stock valued at $33,618,000 after buying an additional 33,868 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Immunocore Stock Performance

NASDAQ:IMCR opened at $36.02 on Thursday. The company has a current ratio of 5.96, a quick ratio of 5.94 and a debt-to-equity ratio of 1.22. Immunocore has a 12-month low of $33.04 and a 12-month high of $76.98. The stock has a 50-day moving average price of $46.96 and a 200 day moving average price of $59.53. The stock has a market capitalization of $1.80 billion, a P/E ratio of -29.52 and a beta of 0.75.

Immunocore (NASDAQ:IMCR) last released its earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.12). Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business had revenue of $70.30 million for the quarter, compared to analysts’ expectations of $70.72 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities research analysts forecast that Immunocore will post -1.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMCR has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Canaccord Genuity Group increased their target price on Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $81.00 target price on shares of Immunocore in a report on Monday, June 3rd. Guggenheim reissued a “buy” rating and issued a $92.00 target price on shares of Immunocore in a report on Tuesday, April 23rd. Finally, Mizuho lowered their target price on Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Immunocore currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.85.

About Immunocore

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.