Tang Capital Management LLC Acquires 450,000 Shares of Immunocore Holdings plc (NASDAQ:IMCR)

Tang Capital Management LLC grew its stake in Immunocore Holdings plc (NASDAQ:IMCR - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,555,600 shares of the company's stock after purchasing an additional 450,000 shares during the period. Immunocore comprises approximately 3.0% of Tang Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Tang Capital Management LLC owned 3.11% of Immunocore worth $45,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment purchased a new stake in shares of Immunocore during the 4th quarter worth about $17,700,000. Deep Track Capital LP purchased a new position in Immunocore during the fourth quarter worth approximately $15,322,000. Point72 Asset Management L.P. acquired a new stake in Immunocore in the fourth quarter valued at approximately $11,897,000. T. Rowe Price Investment Management Inc. increased its position in shares of Immunocore by 3.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company's stock valued at $197,657,000 after buying an additional 200,373 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Immunocore by 8.0% during the 4th quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company's stock worth $78,722,000 after buying an additional 196,530 shares during the period. Institutional investors and hedge funds own 84.50% of the company's stock.

Analysts Set New Price Targets

IMCR has been the topic of a number of research analyst reports. Oppenheimer lifted their price target on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of 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 restated a "buy" rating and set a $100.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price objective on shares of Immunocore in a report on Thursday, April 10th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $35.00 target price on shares of Immunocore in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.13.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker bought 807,338 shares of Immunocore stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the acquisition, the director now directly owns 2,144,060 shares in the company, valued at $63,721,463.20. The trade was a 60.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is owned by insiders.

Immunocore Trading Down 2.3%

Immunocore stock traded down $0.73 during mid-day trading on Wednesday, hitting $31.66. The company's stock had a trading volume of 275,588 shares, compared to its average volume of 418,990. The firm has a market capitalization of $1.59 billion, a PE ratio of -33.33 and a beta of 0.75. Immunocore Holdings plc has a 1 year low of $23.15 and a 1 year high of $51.50. The stock's fifty day moving average is $28.87 and its two-hundred day moving average is $30.03. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

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

Immunocore Company 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.