Immunocore (NASDAQ:IMCR) Trading Up 5% - Here's Why

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s share price shot up 5% during mid-day trading on Monday . The stock traded as high as $29.92 and last traded at $29.82. 215,824 shares traded hands during trading, a decline of 29% from the average session volume of 305,470 shares. The stock had previously closed at $28.41.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. Mizuho cut their target price on Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on Immunocore from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set 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 issued a $35.00 target price on shares of Immunocore in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.90.

Immunocore Trading Down 0.7 %

The company has a fifty day moving average of $28.77 and a two-hundred day moving average of $30.35. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -31.75 and a beta of 0.75.

Insiders Place Their Bets

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

Institutional Trading of Immunocore

A number of institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Immunocore in the fourth quarter valued at $25,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Immunocore in the first quarter valued at about $225,000. China Universal Asset Management Co. Ltd. boosted its holdings in Immunocore by 12.9% during the fourth 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 in the last quarter. NEOS Investment Management LLC grew its position in Immunocore by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company's stock worth $330,000 after buying an additional 1,102 shares during the period. Finally, Tema Etfs LLC purchased a new position in Immunocore in the fourth quarter valued at about $330,000. 84.50% of the stock is currently owned by hedge funds and other 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.