Immunocore (NASDAQ:IMCR) Stock Jumps 8% – Here’s What Happened

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) were up 8% on Tuesday. The stock traded as high as $31.93 and last traded at $32.2390. Approximately 294,413 shares traded hands during trading, a decline of 35% from the average daily volume of 454,604 shares. The stock had previously closed at $29.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Immunocore in a report on Friday, August 21st. They set an “overweight” rating and a $50.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Immunocore in a report on Thursday, October 15th. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, July 13th. Finally, Mizuho lifted their price objective on shares of Immunocore from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Immunocore Trading Down 1.6%

The company has a fifty day simple moving average of $32.93 and a 200-day simple moving average of $31.66. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -86.73 and a beta of 0.81.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative net margin of 4.20% and a negative return on equity of 4.54%. On average, research analysts forecast that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Immunocore

A number of hedge funds have recently modified their holdings of IMCR. Janus Henderson Group PLC boosted its position in shares of Immunocore by 30.9% in the first quarter. Janus Henderson Group PLC now owns 594,712 shares of the company’s stock worth $17,919,000 after buying an additional 140,308 shares during the period. Braidwell LP acquired a new position in Immunocore during the second quarter valued at $16,552,000. Renaissance Technologies LLC raised its position in Immunocore by 16.4% during the first quarter. Renaissance Technologies LLC now owns 164,000 shares of the company’s stock valued at $4,945,000 after buying an additional 23,100 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Immunocore during the second quarter valued at $2,145,000. Finally, Stempoint Capital LP purchased a new stake in Immunocore in the 1st quarter worth about $1,916,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

About Immunocore

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapeutics designed to direct the immune system against cancer and other serious diseases. Its proprietary ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and recruit T cells to attack those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is an ImmTAC therapy approved in the United States and other markets for the treatment of certain adults with unresectable or metastatic uveal melanoma who have a specific HLA-A*02:01 genotype.