Immunocore (NASDAQ:IMCR) Shares Gap Up on Insider Buying Activity

Immunocore Holdings plc (NASDAQ:IMCR) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $28.71, but opened at $29.60. Immunocore shares last traded at $30.78, with a volume of 199,364 shares.

Specifically, Director Bros. Advisors Lp Baker bought 807,338 shares of the stock in a transaction dated Monday, March 17th. The stock was purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the purchase, the director now owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. This trade represents a 60.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a research report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Wednesday, March 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Price Performance

The stock’s 50 day simple moving average is $30.00 and its 200-day simple moving average is $31.21. 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 firm has a market cap of $1.57 billion, a price-to-earnings ratio of -32.82 and a beta of 0.79.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently bought and sold shares of IMCR. GF Fund Management CO. LTD. purchased a new stake in shares of Immunocore in the fourth quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Immunocore by 12.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after acquiring an additional 960 shares during the last quarter. NEOS Investment Management LLC raised its position in shares of Immunocore by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock valued at $330,000 after buying an additional 1,102 shares during the last quarter. Tema Etfs LLC purchased a new position in Immunocore in the 4th quarter worth approximately $330,000. Finally, Virtus ETF Advisers LLC grew its holdings in Immunocore by 39.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company’s stock valued at $340,000 after buying an additional 3,238 shares in the last quarter. Institutional investors and hedge funds 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.