Immunocore (NASDAQ:IMCR) Sees Strong Trading Volume – Still a Buy?

Shares of Immunocore Holdings plc (NASDAQ:IMCR) saw an uptick in trading volume on Wednesday . 578,584 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 288,801 shares.The stock last traded at $29.03 and had previously closed at $28.56.

Wall Street Analyst Weigh In

Several brokerages recently commented on IMCR. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price objective (down from $74.00) on shares of Immunocore in a research report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a report on Thursday, October 24th. UBS Group assumed coverage on shares of Immunocore in a report on Thursday, October 24th. They issued a “sell” rating and a $24.00 price objective for the company. Mizuho downgraded Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Immunocore in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Price Performance

The firm has a 50-day simple moving average of $30.86 and a 200-day simple moving average of $33.63. The firm has a market capitalization of $1.45 billion, a PE ratio of -30.55 and a beta of 0.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $78.94 million. During the same quarter last year, the firm posted ($0.59) earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts forecast that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC lifted its position in Immunocore by 495.1% during the second 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of Immunocore by 10.5% in the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after buying an additional 668,382 shares during the period. Primecap Management Co. CA lifted its position in shares of Immunocore by 26.7% during the 3rd quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock valued at $76,954,000 after buying an additional 520,950 shares in the last quarter. Millennium Management LLC grew 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 valued at $20,366,000 after acquiring an additional 333,167 shares during the period. Finally, Two Sigma Advisers LP raised its stake in 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 period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.