Immunocore (NASDAQ:IMCR) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Immunocore's trading volume surged to 510,330 shares, a 55% increase from the previous day's volume of 328,971 shares, with the stock trading at $32.30.
• Analysts have mixed ratings on Immunocore, with a consensus target price of $56.89, influenced by Guggenheim's neutral rating and Zacks' downgrade to hold.
• The company reported earnings per share of ($0.20), exceeding estimates, and a revenue of $130.65 million, marking a 30% increase year-over-year.

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report) saw strong trading volume on Thursday . 510,330 shares changed hands during trading, an increase of 55% from the previous session's volume of 328,971 shares.The stock last traded at $32.30 and had previously closed at $32.51.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim assumed coverage on shares of Immunocore in a research note on Thursday, September 18th. They set a "neutral" rating on the stock. Zacks Research cut shares of Immunocore from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Wall Street Zen cut shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Jefferies Financial Group initiated coverage on shares of Immunocore in a research note on Monday, August 25th. They issued a "buy" rating and a $48.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.89.

Immunocore Trading Down 1.9%

The business's 50-day moving average price is $33.85 and its two-hundred day moving average price is $32.64. The company has a market capitalization of $1.61 billion, a P/E ratio of -79.65 and a beta of 0.79. 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 (NASDAQ:IMCR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The company had revenue of $130.65 million for the quarter, compared to analysts' expectations of $122.96 million. Immunocore had a negative net margin of 5.70% and a negative return on equity of 5.40%. The business's quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. As a group, analysts forecast that Immunocore Holdings PLC Sponsored ADR will post -0.94 EPS for the current fiscal year.

Insider Activity at Immunocore

In related news, insider David M. Berman sold 22,532 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $35.67, for a total transaction of $803,716.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently made changes to their positions in IMCR. T. Rowe Price Investment Management Inc. increased its stake in Immunocore by 5.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,051,818 shares of the company's stock valued at $209,228,000 after buying an additional 351,610 shares during the last quarter. Primecap Management Co. CA increased its stake in Immunocore by 40.8% in the 2nd quarter. Primecap Management Co. CA now owns 3,771,474 shares of the company's stock valued at $118,349,000 after buying an additional 1,092,824 shares during the last quarter. Bellevue Group AG increased its stake in Immunocore by 99.9% in the 2nd quarter. Bellevue Group AG now owns 2,441,830 shares of the company's stock valued at $76,625,000 after buying an additional 1,220,036 shares during the last quarter. Baker BROS. Advisors LP increased its stake in Immunocore by 53.3% in the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock valued at $68,913,000 after buying an additional 807,338 shares during the last quarter. Finally, BVF Inc. IL acquired a new stake in Immunocore in the 2nd quarter valued at $32,142,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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