Immunocore Holdings PLC Sponsored ADR $IMCR Stock Position Lessened by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management cut its Immunocore stake by 75.3% in the third quarter, selling 354,025 shares and retaining 116,000 shares valued at about $3.6 million.
• Immunocore reported quarterly EPS of -$0.28 versus the -$0.18 consensus, while revenue of $102.2 million fell short of analysts’ $152.5 million expectation.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $55.86; institutional investors owned 84.5% of the company’s stock.

Fulcrum Asset Management LLP cut its position in shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Free Report) by 75.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,000 shares of the company's stock after selling 354,025 shares during the quarter. Fulcrum Asset Management LLP owned approximately 0.23% of Immunocore worth $3,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new position in shares of Immunocore during the 4th quarter valued at about $47,000. GAMMA Investing LLC lifted its position in Immunocore by 202.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $61,000 after buying an additional 1,286 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Immunocore in the third quarter worth approximately $72,000. Juncture Wealth Strategies LLC purchased a new stake in Immunocore in the third quarter worth approximately $207,000. Finally, denkapparat Operations GmbH purchased a new stake in Immunocore in the second quarter worth approximately $209,000. 84.50% of the stock is currently owned by institutional investors.

Immunocore Stock Up 2.4%

IMCR opened at $31.73 on Tuesday. Immunocore Holdings PLC Sponsored ADR has a 12 month low of $27.50 and a 12 month high of $40.71. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. The business's 50-day moving average price is $31.54 and its 200-day moving average price is $31.71. The company has a market cap of $1.63 billion, a P/E ratio of -48.81 and a beta of 0.82.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its earnings results on Friday, November 6th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.10). The company had revenue of $102.22 million for the quarter, compared to analysts' expectations of $152.49 million. Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. On average, equities analysts expect that Immunocore Holdings PLC Sponsored ADR will post 0.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on IMCR. TD Cowen raised shares of Immunocore to a "strong-buy" rating in a research note on Monday, August 24th. Morgan Stanley set a $43.00 price objective on shares of Immunocore in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a research note on Monday, July 13th. Zacks Research lowered shares of Immunocore from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Immunocore in a report on Friday, August 21st. They set an "overweight" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Immunocore presently has an average rating of "Moderate Buy" and an average price target of $55.86.

Immunocore Company Profile

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body's T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach.

The company's marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.

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