Connective Portfolio Management LLC Makes New $218,000 Investment in Immunocore Holdings plc (NASDAQ:IMCR)

Connective Portfolio Management LLC bought a new position in Immunocore Holdings plc (NASDAQ:IMCR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds also recently bought and sold shares of the company. DNB Asset Management AS increased its position in Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after purchasing an additional 1,868 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Immunocore during the 2nd quarter worth about $303,000. Tidal Investments LLC bought a new stake in shares of Immunocore during the 1st quarter worth about $423,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after acquiring an additional 2,721 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Immunocore during the 2nd quarter worth about $434,000. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Stock Performance

NASDAQ:IMCR traded down $0.32 during mid-day trading on Wednesday, hitting $30.25. 11,208 shares of the company’s stock traded hands, compared to its average volume of 556,411. The firm has a 50 day moving average of $34.70 and a two-hundred day moving average of $43.65. The company has a current ratio of 5.17, a quick ratio of 5.15 and a debt-to-equity ratio of 1.31. Immunocore Holdings plc has a 12 month low of $29.72 and a 12 month high of $76.98. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -25.06 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The company had revenue of $75.40 million during the quarter, compared to the consensus estimate of $74.58 million. During the same quarter last year, the company earned ($0.37) EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts forecast that Immunocore Holdings plc will post -1.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IMCR has been the subject of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $89.00 price target (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Barclays decreased their price target on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Guggenheim downgraded Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

Immunocore 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.