Persistent Asset Partners Ltd Purchases New Stake in Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR)

Key Points

• Persistent Asset Partners Ltd has acquired a new stake in Immunocore Holdings PLC, purchasing 22,330 shares valued at approximately $663,000.
• Analyst ratings for Immunocore have varied, with JP Morgan lowering its price target from $54 to $50, while HC Wainwright maintained a buy rating with a target of $100.
• Immunocore reported a quarterly revenue increase of 30% year-over-year, reaching $130.65 million, while beating earnings per share estimates by $0.01.

Persistent Asset Partners Ltd bought a new position in shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,330 shares of the company's stock, valued at approximately $663,000.

A number of other hedge funds have also bought and sold shares of IMCR. GF Fund Management CO. LTD. acquired a new position in shares of Immunocore during the fourth quarter valued at about $25,000. Oppenheimer Asset Management Inc. purchased a new position in Immunocore during the first quarter worth about $225,000. Tema Etfs LLC purchased a new position in Immunocore during the fourth quarter worth about $330,000. Virtus ETF Advisers LLC boosted its holdings in Immunocore by 39.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock worth $340,000 after purchasing an additional 3,238 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in Immunocore by 22.2% during the fourth quarter. XTX Topco Ltd now owns 18,896 shares of the company's stock worth $557,000 after purchasing an additional 3,437 shares during the last quarter. Institutional investors own 84.50% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Immunocore in a research note on Tuesday, May 27th. They set a "buy" rating and a $65.00 price objective for the company. Wall Street Zen cut shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of Immunocore in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.00.

Immunocore Price Performance

IMCR stock traded down $0.18 during midday trading on Friday, reaching $32.88. The company had a trading volume of 180,187 shares, compared to its average volume of 327,356. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.89 and a quick ratio of 5.86. Immunocore Holdings PLC Sponsored ADR has a 1 year low of $23.15 and a 1 year high of $39.33. The company has a market capitalization of $1.65 billion, a P/E ratio of -82.20 and a beta of 0.77. The firm has a 50-day moving average price of $33.60 and a 200-day moving average price of $31.25.

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

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.