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

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a significant decrease in short interest during the month of 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. Currently, 14.8% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IMCR shares. Needham & Company LLC decreased their price objective on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 price target (down previously from $74.00) on shares of Immunocore in a report on Friday. Mizuho downgraded 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 report on Monday, November 11th. UBS Group began coverage on Immunocore in a report on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price for the company. Finally, Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. One 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Trading Up 1.5 %

NASDAQ IMCR opened at $29.33 on Tuesday. The firm has a market cap of $1.47 billion, a PE ratio of -30.87 and a beta of 0.73. Immunocore has a 52 week low of $28.17 and a 52 week high of $76.98. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $32.25 and a 200 day moving average price of $35.09.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.50. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The firm had revenue of $80.25 million during the quarter, compared to analyst estimates of $78.94 million. During the same quarter in the prior year, the business posted ($0.59) EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Immunocore will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of large investors have recently modified their holdings of the business. Primecap Management Co. CA boosted its stake in Immunocore by 3,841.6% in the 2nd quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company’s stock worth $66,122,000 after purchasing an additional 1,901,570 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after buying an additional 812,000 shares during the period. Wellington Management Group LLP grew its holdings in shares of Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after buying an additional 668,382 shares during the last quarter. Millennium Management LLC increased its position in shares of Immunocore by 124.4% in 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% in 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 last quarter. Hedge funds and other 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.