Immunocore (NASDAQ:IMCR) Shares Gap Up – Here’s What Happened

Immunocore Holdings plc (NASDAQ:IMCR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $32.45, but opened at $34.07. Immunocore shares last traded at $34.07, with a volume of 1,023 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IMCR shares. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Barclays lowered their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Morgan Stanley cut their price target on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $89.00 price objective (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and an average target price of $69.18.

Immunocore Stock Up 1.2 %

The firm’s 50 day simple moving average is $32.23 and its 200-day simple moving average is $36.95. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -34.56 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last released its earnings results 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. 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 in the previous year, the business earned ($0.59) earnings per share. Immunocore’s quarterly revenue was up 23.7% on a year-over-year basis. Equities analysts expect that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Large investors have recently made changes to their positions in the stock. Primecap Management Co. CA raised 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 acquiring an additional 1,901,570 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Immunocore by 495.1% in the 2nd quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock valued at $33,077,000 after purchasing an additional 812,000 shares during the period. Wellington Management Group LLP lifted its stake in Immunocore by 10.5% in the 3rd 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. Millennium Management LLC boosted its stake in shares of Immunocore by 124.4% during the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after acquiring an additional 333,167 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Immunocore by 65.6% during the 3rd quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after acquiring an additional 300,200 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.