Immunocore (NASDAQ:IMCR) Shares Up 6.3% - Here's What Happened

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s stock price traded up 6.3% on Thursday . The company traded as high as $33.20 and last traded at $33.46. 347,223 shares were traded during mid-day trading, a decline of 11% from the average session volume of 390,342 shares. The stock had previously closed at $31.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho lowered their price target on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Morgan Stanley restated an "equal weight" rating and issued a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of Immunocore in a report on Wednesday, March 12th. Needham & Company LLC restated a "buy" rating and issued a $71.00 price target on shares of Immunocore in a report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immunocore in a report on Tuesday. They issued a "buy" rating and a $65.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Immunocore currently has an average rating of "Moderate Buy" and an average target price of $58.89.

Immunocore Stock Up 4.1%

The business's 50 day moving average is $29.37 and its 200 day moving average is $29.97. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -38.41 and a beta of 0.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its 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. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The company had revenue of $125.13 million during the quarter, compared to analysts' expectations of $108.82 million. During the same period last year, the business earned ($0.49) EPS. Immunocore's revenue for the quarter was up 33.6% on a year-over-year basis. Sell-side analysts anticipate that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other Immunocore news, Director Bros. Advisors Lp Baker purchased 807,338 shares of Immunocore stock in a transaction 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 transaction, the director now owns 2,144,060 shares of the company's stock, valued at $63,721,463.20. This represents a 60.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunocore

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

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.