Principal Financial Group Inc. Sells 139,306 Shares of Immunocore Holdings PLC Sponsored ADR $IMCR

Key Points

• Principal Financial Group reduced its Immunocore stake by 21.2% in the first quarter, selling 139,306 shares and leaving it with 519,130 shares worth about $15.65 million.
• Immunocore’s stock was little changed, opening at $35.51, while the company’s market cap was about $1.81 billion and its shares traded between a 12-month low of $27.56 and high of $40.71.
• The company beat earnings expectations in its latest quarter with $0.25 EPS versus an expected loss, but revenue came in below estimates; analysts currently have a consensus Hold rating with a $56.71 price target.

Principal Financial Group Inc. lessened its stake in Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Free Report) by 21.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 519,130 shares of the company's stock after selling 139,306 shares during the period. Principal Financial Group Inc. owned 1.02% of Immunocore worth $15,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Harbour Investments Inc. boosted its holdings in shares of Immunocore by 60.2% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Immunocore by 37.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,120 shares of the company's stock valued at $74,000 after acquiring an additional 572 shares during the last quarter. R Squared Ltd lifted its position in Immunocore by 7.4% during the fourth quarter. R Squared Ltd now owns 8,849 shares of the company's stock valued at $307,000 after acquiring an additional 606 shares during the last quarter. Leonteq Securities AG acquired a new stake in Immunocore in the fourth quarter valued at approximately $30,000. Finally, Orion Porfolio Solutions LLC boosted its stake 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 acquiring an additional 1,031 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors.

Immunocore Trading Down 0.1%

NASDAQ:IMCR opened at $35.51 on Friday. Immunocore Holdings PLC Sponsored ADR has a 12 month low of $27.56 and a 12 month high of $40.71. The firm has a fifty day simple moving average of $30.59 and a 200-day simple moving average of $31.28. The company has a current ratio of 4.18, a quick ratio of 4.15 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $1.81 billion, a P/E ratio of -64.56 and a beta of 0.73.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.51. The firm had revenue of $106.68 million for the quarter, compared to the consensus estimate of $145.20 million. Immunocore had a negative return on equity of 7.07% and a negative net margin of 6.68%.The firm's revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, equities research analysts anticipate that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

IMCR has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Immunocore in a research report on Monday, April 20th. Cantor Fitzgerald reissued an "overweight" rating on shares of Immunocore in a research report on Monday, July 13th. Wall Street Zen upgraded Immunocore from a "hold" rating to a "buy" rating in a research note on Monday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a research note on Friday, July 17th. Finally, Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Immunocore presently has a consensus rating of "Hold" and a consensus price target of $56.71.

Immunocore Profile

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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