Immunocore Holdings plc (NASDAQ:IMCR) Short Interest Update

Immunocore Holdings plc (NASDAQ:IMCR) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,610,000 shares, an increase of 7.5% from the March 15th total of 4,290,000 shares. Approximately 9.5% of the company’s shares are short sold. Based on an average daily volume of 491,700 shares, the short-interest ratio is currently 9.4 days.

Immunocore Stock Performance

Immunocore stock opened at $53.37 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.80 and a quick ratio of 3.77. Immunocore has a 12 month low of $42.21 and a 12 month high of $76.98. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -46.01 and a beta of 0.89. The stock’s 50-day moving average is $64.95 and its 200-day moving average is $60.31.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.12). Immunocore had a negative return on equity of 15.78% and a negative net margin of 22.48%. The business had revenue of $70.16 million for the quarter, compared to analysts’ expectations of $53.25 million. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. Immunocore’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities analysts anticipate that Immunocore will post -1.54 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently modified their holdings of the stock. Bellevue Group AG boosted its holdings in Immunocore by 4,817.1% in the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock worth $66,684,000 after acquiring an additional 956,204 shares during the period. Braidwell LP lifted its position in shares of Immunocore by 93.8% during the third quarter. Braidwell LP now owns 906,973 shares of the company’s stock worth $47,072,000 after purchasing an additional 438,946 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Immunocore by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,944,574 shares of the company’s stock worth $201,174,000 after buying an additional 423,290 shares during the period. Wellington Management Group LLP increased its stake in Immunocore by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company’s stock worth $294,638,000 after buying an additional 399,201 shares during the period. Finally, First Turn Management LLC acquired a new position in Immunocore in the 4th quarter worth $23,439,000. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IMCR. Mizuho lifted their price target on shares of Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price target on Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Immunocore in a research report on Thursday, April 11th. Canaccord Genuity Group increased their target price on Immunocore from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Finally, Oppenheimer reissued an “outperform” rating and issued a $87.00 price target (up from $85.00) on shares of Immunocore in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.55.

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.