Immunocore (NASDAQ:IMCR) Shares Gap Up - Here's Why

Shares of Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $31.16, but opened at $33.11. Immunocore shares last traded at $32.64, with a volume of 77,327 shares changing hands.

Wall Street Analyst Weigh In

IMCR has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $71.00 target price on shares of Immunocore in a report on Thursday, April 10th. 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 report on Monday, April 14th. Oppenheimer upped their price objective on shares of Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immunocore in a report on Tuesday. They set a "buy" rating and a $65.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.89.

Immunocore Stock Up 3.1%

The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The stock's 50-day simple moving average is $29.12 and its 200-day simple moving average is $29.98. The firm has a market capitalization of $1.63 billion, a P/E ratio of -34.09 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.45. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business had revenue of $125.13 million during the quarter, compared to the consensus estimate of $108.82 million. During the same period in the prior year, the firm posted ($0.49) EPS. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. As a group, research analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other Immunocore news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost 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 in the company, valued at approximately $63,721,463.20. This represents a 60.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in Immunocore in the 4th quarter worth approximately $25,000. Oppenheimer Asset Management Inc. bought a new position in Immunocore in the 1st quarter worth approximately $225,000. China Universal Asset Management Co. Ltd. boosted its holdings in Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company's stock worth $248,000 after buying an additional 960 shares during the period. Checkpoint Capital L.P. purchased a new stake in Immunocore in the 1st quarter worth approximately $267,000. Finally, Banque Transatlantique SA purchased a new stake in Immunocore in the 1st quarter worth approximately $278,000. 84.50% of the stock is owned by institutional investors.

About Immunocore

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.