The Manufacturers Life Insurance Company Sells 14,362 Shares of Immunocore Holdings plc (NASDAQ:IMCR)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Immunocore Holdings plc (NASDAQ:IMCR) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,391 shares of the company’s stock after selling 14,362 shares during the period. The Manufacturers Life Insurance Company’s holdings in Immunocore were worth $3,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Immunocore by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock valued at $2,392,000 after acquiring an additional 606 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Immunocore by 6.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock valued at $767,000 after purchasing an additional 1,390 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after purchasing an additional 1,461 shares during the period. Assetmark Inc. boosted its holdings in Immunocore by 6.5% in the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock worth $951,000 after purchasing an additional 1,878 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock worth $231,000 after purchasing an additional 3,053 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Stock Performance

NASDAQ IMCR opened at $31.52 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’s fifty day moving average is $32.30 and its two-hundred day moving average is $35.97. The firm has a market capitalization of $1.58 billion, a P/E ratio of -33.18 and a beta of 0.73.

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

Analyst Ratings Changes

IMCR has been the subject of several research reports. UBS Group started coverage on shares of Immunocore in a research report on Thursday, October 24th. They set a “sell” rating and a $24.00 price target for the company. Guggenheim cut shares of Immunocore from a “buy” rating to a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC cut their price objective on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Mizuho lowered Immunocore from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $38.00 in a research note on Monday, November 11th. Finally, Morgan Stanley lowered their target price on Immunocore from $80.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.18.

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.