Immunocore (NASDAQ:IMCR) Shares Gap Up – Should You Buy?

Immunocore Holdings plc (NASDAQ:IMCR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $29.32, but opened at $30.00. Immunocore shares last traded at $29.17, with a volume of 10,918 shares.

Analyst Ratings Changes

IMCR has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a research report on Wednesday, March 12th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price objective 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 issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Stock Performance

The company has a 50-day moving average of $30.02 and a 200-day moving average of $31.01. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -31.72 and a beta of 0.79. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

Insiders Place Their Bets

In related news, Director Bros. Advisors Lp Baker bought 807,338 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. This trade represents a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Immunocore by 63.9% in the third quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after buying an additional 29,897 shares during the last quarter. Principal Financial Group Inc. lifted its position in Immunocore by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock valued at $17,007,000 after purchasing an additional 109,206 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Immunocore by 125.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 49,608 shares of the company’s stock valued at $1,463,000 after purchasing an additional 27,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Immunocore by 7,437.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock worth $2,872,000 after purchasing an additional 91,033 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Immunocore by 0.5% in the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock valued at $150,546,000 after purchasing an additional 23,436 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.