Hudson Bay Capital Management LP Boosts Stake in Immunocore Holdings plc (NASDAQ:IMCR)

Hudson Bay Capital Management LP boosted its holdings in shares of Immunocore Holdings plc (NASDAQ:IMCR - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,300 shares of the company's stock after acquiring an additional 78,000 shares during the period. Hudson Bay Capital Management LP owned 0.65% of Immunocore worth $9,596,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IMCR. T. Rowe Price Investment Management Inc. grew its stake in shares of Immunocore by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company's stock worth $197,657,000 after buying an additional 200,373 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Immunocore by 8.0% in the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company's stock worth $78,722,000 after acquiring an additional 196,530 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Immunocore by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock valued at $64,533,000 after acquiring an additional 29,832 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Immunocore during the fourth quarter valued at $17,700,000. Finally, Principal Financial Group Inc. raised its position in shares of Immunocore by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 546,318 shares of the company's stock worth $17,007,000 after purchasing an additional 109,206 shares during the last quarter. Institutional investors own 84.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IMCR shares. Morgan Stanley restated an "equal weight" rating and set a $35.00 price objective on shares of Immunocore in a research note on Friday, March 7th. Needham & Company LLC restated a "buy" rating and issued a $71.00 price objective on shares of Immunocore in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered 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. Oppenheimer lifted their target price on Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.13.

Immunocore Stock Performance

Immunocore stock traded up $1.37 during mid-day trading on Thursday, reaching $29.06. 547,431 shares of the stock traded hands, compared to its average volume of 430,128. Immunocore Holdings plc has a 12-month low of $23.15 and a 12-month high of $58.36. The business's 50-day moving average is $28.71 and its 200-day moving average is $30.09. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The stock has a market capitalization of $1.45 billion, a PE ratio of -30.59 and a beta of 0.75.

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

Insider Buying and Selling at Immunocore

In other news, Director Bros. Advisors Lp Baker bought 807,338 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the acquisition, the director now owns 2,144,060 shares of the company's stock, valued at approximately $63,721,463.20. This represents a 60.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.40% of the stock is currently owned by corporate insiders.

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.