Cubist Systematic Strategies LLC Reduces Stock Position in Immunocore Holdings PLC Sponsored ADR $IMCR

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Immunocore Holdings PLC by 35.6%, selling 37,971 shares and retaining 68,629 shares valued at approximately $2,036,000.
• Immunocore's stock experienced a 5.5% increase, with a current share price of $37.20, while its quarterly earnings surpassed analyst expectations with a revenue of $130.65 million.
• The company's stock ratings are mixed, with seven analysts giving a "buy" rating and an average price target of $56.89 according to MarketBeat.

Cubist Systematic Strategies LLC reduced its position in shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Free Report) by 35.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,629 shares of the company's stock after selling 37,971 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.14% of Immunocore worth $2,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Immunocore during the 1st quarter worth $225,000. GAMMA Investing LLC lifted its position in Immunocore by 3,318.1% during the 1st quarter. GAMMA Investing LLC now owns 19,107 shares of the company's stock worth $5,670,000 after acquiring an additional 18,548 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Immunocore by 5.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company's stock worth $209,228,000 after acquiring an additional 351,610 shares during the period. Point72 Asset Management L.P. acquired a new stake in Immunocore during the 4th quarter worth about $11,897,000. Finally, BNP Paribas Financial Markets acquired a new stake in Immunocore during the 4th quarter worth about $5,697,000. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

Immunocore Price Performance

NASDAQ:IMCR traded down $0.60 during trading hours on Friday, hitting $35.97. 19,256 shares of the stock were exchanged, compared to its average volume of 332,052. Immunocore Holdings PLC Sponsored ADR has a 52-week low of $23.15 and a 52-week high of $39.33. The firm's fifty day moving average price is $33.95 and its 200 day moving average price is $31.73. The company has a current ratio of 5.89, a quick ratio of 5.86 and a debt-to-equity ratio of 1.01. The company has a market cap of $1.81 billion, a P/E ratio of -90.20 and a beta of 0.77.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. Immunocore had a negative return on equity of 5.40% and a negative net margin of 5.70%.The company had revenue of $130.65 million during the quarter, compared to analyst estimates of $122.96 million. During the same period in the previous year, the business earned ($0.23) EPS. Immunocore's quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Immunocore Holdings PLC Sponsored ADR will post -0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on IMCR. Zacks Research cut Immunocore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Immunocore in a research report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft began coverage on Immunocore in a research report on Tuesday, May 27th. They set a "buy" rating and a $65.00 price target for the company. Wall Street Zen cut Immunocore from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group started coverage on Immunocore in a report on Monday, August 25th. They issued a "buy" rating and a $48.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.89.

Immunocore Profile

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.