Immunocore (NASDAQ:IMCR) Shares Gap Up – What’s Next?

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $29.32, but opened at $30.00. Immunocore shares last traded at $29.17, with a volume of 10,918 shares.

Analyst Upgrades and Downgrades

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

Immunocore Trading Up 1.3 %

The stock’s fifty day simple moving average is $30.00 and its 200-day simple moving average is $31.02. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The firm has a market cap of $1.49 billion, a PE ratio of -31.12 and a beta of 0.79.

Insider Buying and Selling

In other Immunocore news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the acquisition, the director now directly owns 2,144,060 shares of the company’s stock, valued at approximately $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunocore

Several large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Immunocore in the fourth quarter valued at $25,000. China Universal Asset Management Co. Ltd. grew its holdings in Immunocore by 12.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock valued at $248,000 after purchasing an additional 960 shares during the period. NEOS Investment Management LLC increased 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 in the last quarter. Tema Etfs LLC purchased a new stake in shares of Immunocore in the fourth quarter valued at approximately $330,000. Finally, Virtus ETF Advisers LLC raised its stake in shares of Immunocore by 39.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company’s stock worth $340,000 after buying an additional 3,238 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.