Principal Financial Group Inc. Grows Stock Position in Immunocore Holdings plc (NASDAQ:IMCR)

Principal Financial Group Inc. grew its position in shares of Immunocore Holdings plc (NASDAQ:IMCR) by 25.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546,318 shares of the company’s stock after buying an additional 109,206 shares during the period. Principal Financial Group Inc. owned 1.09% of Immunocore worth $17,007,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its position in Immunocore by 3,841.6% during the second quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock worth $66,122,000 after purchasing an additional 1,901,570 shares during the period. Armistice Capital LLC boosted its holdings in Immunocore by 495.1% in the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after buying an additional 812,000 shares during the period. Fiera Capital Corp grew its stake in Immunocore by 1.1% in the 2nd quarter. Fiera Capital Corp now owns 875,593 shares of the company’s stock valued at $29,674,000 after buying an additional 9,181 shares in the last quarter. Renaissance Technologies LLC grew its stake in Immunocore by 14.5% in the 2nd quarter. Renaissance Technologies LLC now owns 646,920 shares of the company’s stock valued at $21,924,000 after buying an additional 82,120 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Immunocore by 124.4% during the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock valued at $20,366,000 after acquiring an additional 333,167 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IMCR shares. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Thursday, October 24th. Morgan Stanley reduced their target price on Immunocore from $80.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Barclays decreased their price target on Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $89.00 target price (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.18.

Immunocore Stock Performance

Immunocore stock opened at $32.62 on Friday. Immunocore Holdings plc has a fifty-two week low of $29.72 and a fifty-two week high of $76.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The stock has a market cap of $1.63 billion, a P/E ratio of -35.97 and a beta of 0.72. The firm’s fifty day moving average price is $32.52 and its 200-day moving average price is $38.89.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The business had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.94 million. During the same quarter last year, the business posted ($0.59) earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts expect that Immunocore Holdings plc will post -0.96 earnings per share for the current fiscal year.

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.