Bank of America Corp DE Trims Stock Position in Immunocore Holdings PLC Sponsored ADR $IMCR

Key Points

• Bank of America reduced its Immunocore stake by 11.9% in the first quarter, selling 27,871 shares and retaining 206,866 shares valued at approximately $6.24 million. Institutional investors collectively own 84.5% of the company.
• Immunocore shares opened at $37.12, within a 12-month range of $27.56 to $40.71. The company recently reported a quarterly loss of $0.02 per share, slightly below analysts’ expectations.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $56.38; JPMorgan initiated coverage with an overweight rating and a $50 target.

Bank of America Corp DE trimmed its position in Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Free Report) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,866 shares of the company's stock after selling 27,871 shares during the quarter. Bank of America Corp DE owned about 0.41% of Immunocore worth $6,237,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IMCR. Harbour Investments Inc. raised its position in shares of Immunocore by 60.2% during the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company's stock valued at $36,000 after buying an additional 388 shares during the period. R Squared Ltd increased its stake in Immunocore by 7.4% during the fourth quarter. R Squared Ltd now owns 8,849 shares of the company's stock worth $307,000 after acquiring an additional 606 shares during the last quarter. Leonteq Securities AG acquired a new stake in Immunocore during the fourth quarter worth $30,000. Orion Porfolio Solutions LLC raised its position in Immunocore by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 23,965 shares of the company's stock valued at $752,000 after purchasing an additional 1,031 shares during the period. Finally, Arax Advisory Partners lifted its position in Immunocore by 302.9% in the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company's stock valued at $48,000 after buying an additional 1,042 shares during the last quarter. Hedge funds and other institutional investors own 84.50% of the company's stock.

Immunocore Stock Performance

Shares of IMCR stock opened at $37.12 on Thursday. The company has a market cap of $1.91 billion, a P/E ratio of -100.32 and a beta of 0.74. The firm has a fifty day moving average price of $33.48 and a 200 day moving average price of $31.53. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. Immunocore Holdings PLC Sponsored ADR has a 12 month low of $27.56 and a 12 month high of $40.71.

Immunocore (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. Sell-side analysts predict that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen upgraded shares of Immunocore to a "strong-buy" rating in a research report on Monday. JPMorgan Chase & Co. started coverage on shares of Immunocore in a research report on Friday, August 21st. They set an "overweight" rating and a $50.00 price objective for the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a report on Friday, July 17th. Morgan Stanley set a $43.00 target price on Immunocore in a research report on Friday, August 7th. Finally, Zacks Research upgraded Immunocore from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Immunocore has an average rating of "Moderate Buy" and a consensus price target of $56.38.

About Immunocore

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body's own T‐cell response to treat cancer and infectious diseases. The company's proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company's most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.

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