Millennium Management LLC Cuts Stake in Immunocore Holdings plc (NASDAQ:IMCR)

Millennium Management LLC reduced its stake in Immunocore Holdings plc (NASDAQ:IMCR - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 573,362 shares of the company's stock after selling 103,269 shares during the period. Millennium Management LLC owned approximately 1.15% of Immunocore worth $16,914,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IMCR. China Universal Asset Management Co. Ltd. grew its stake in shares of Immunocore by 12.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company's stock worth $248,000 after acquiring an additional 960 shares during the last quarter. NEOS Investment Management LLC grew its stake 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 worth $330,000 after acquiring an additional 1,102 shares during the last quarter. Virtus ETF Advisers LLC grew its stake in shares of Immunocore by 39.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock worth $340,000 after acquiring an additional 3,238 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Immunocore by 22.2% during the fourth quarter. XTX Topco Ltd now owns 18,896 shares of the company's stock valued at $557,000 after buying an additional 3,437 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Immunocore by 2,044.0% during the fourth quarter. Barclays PLC now owns 20,625 shares of the company's stock valued at $608,000 after buying an additional 19,663 shares during the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Immunocore

In related news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the transaction, the director now directly owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. This represents a 60.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.40% of the company's stock.

Immunocore Stock Down 2.3%

IMCR stock opened at $31.66 on Thursday. Immunocore Holdings plc has a fifty-two week low of $23.15 and a fifty-two week high of $51.50. The business's 50-day moving average is $28.93 and its two-hundred day moving average is $30.05. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -33.33 and a beta of 0.75.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.45. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The company had revenue of $125.13 million for the quarter, compared to the consensus estimate of $108.82 million. During the same quarter in the prior year, the company earned ($0.49) earnings per share. Immunocore's revenue was up 33.6% on a year-over-year basis. As a group, analysts forecast that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IMCR shares. JPMorgan Chase & Co. dropped their price objective on Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective 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 Thursday, April 10th. Mizuho dropped their price objective on Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Oppenheimer increased their price objective on Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.13.

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.

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