Immunocore Holdings plc (NASDAQ:IMCR) Sees Significant Decline in Short Interest

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 7,190,000 shares, a decrease of 5.4% from the November 15th total of 7,600,000 shares. Based on an average daily volume of 277,800 shares, the short-interest ratio is currently 25.9 days. Approximately 14.8% of the shares of the company are sold short.

Immunocore Trading Up 1.5 %

IMCR stock opened at $29.33 on Tuesday. The firm has a fifty day moving average price of $32.25 and a 200 day moving average price of $35.09. Immunocore has a fifty-two week low of $28.17 and a fifty-two week high of $76.98. The firm has a market cap of $1.47 billion, a PE ratio of -30.87 and a beta of 0.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.50. The firm had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.59) EPS. Sell-side analysts anticipate that Immunocore will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

IMCR has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Immunocore in a report on Thursday, October 24th. Mizuho downgraded Immunocore from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Guggenheim lowered shares of Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC decreased their price objective on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.64.

Hedge Funds Weigh In On Immunocore

Several large investors have recently modified their holdings of IMCR. Pier Capital LLC increased its position in Immunocore by 1.4% during the third quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock valued at $2,568,000 after acquiring an additional 1,174 shares during the last quarter. XTX Topco Ltd grew its holdings in Immunocore by 72.9% during the 3rd quarter. XTX Topco Ltd now owns 15,459 shares of the company’s stock valued at $481,000 after purchasing an additional 6,516 shares during the last quarter. Wellington Management Group LLP raised its position in Immunocore by 10.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after purchasing an additional 668,382 shares during the period. Two Sigma Advisers LP lifted its stake in Immunocore by 65.6% in the third quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock worth $23,587,000 after purchasing an additional 300,200 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Immunocore by 63.9% during the third quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after buying an additional 29,897 shares during the period. Institutional investors own 84.50% of the company’s stock.

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.