Immunocore Holdings plc (NASDAQ:IMCR) Sees Large Growth in Short Interest

Immunocore Holdings plc (NASDAQ:IMCR) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,610,000 shares, a growth 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 trading volume of 491,700 shares, the short-interest ratio is presently 9.4 days.

Institutional Trading of Immunocore

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC grew its stake in Immunocore by 4.8% during the 4th quarter. Fred Alger Management LLC now owns 8,359 shares of the company’s stock worth $477,000 after buying an additional 382 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Immunocore by 89.7% during the fourth quarter. Wells Fargo & Company MN now owns 827 shares of the company’s stock valued at $47,000 after acquiring an additional 391 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 103.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 836 shares of the company’s stock worth $43,000 after acquiring an additional 426 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Immunocore by 32.9% in the 3rd quarter. IFP Advisors Inc now owns 2,397 shares of the company’s stock worth $124,000 after acquiring an additional 594 shares during the period. Finally, Mariner LLC lifted its position in Immunocore by 16.1% in the 3rd quarter. Mariner LLC now owns 4,331 shares of the company’s stock valued at $225,000 after purchasing an additional 599 shares during the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $81.00 target price on shares of Immunocore in a report on Thursday, April 11th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Immunocore in a report on Wednesday, March 6th. Oppenheimer restated an “outperform” rating and set a $87.00 price objective (up from $85.00) on shares of Immunocore in a report on Thursday, February 29th. Canaccord Genuity Group increased their target price on Immunocore from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Finally, Mizuho raised their price objective on shares of Immunocore from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Immunocore presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.55.

Immunocore Stock Down 1.8 %

Shares of NASDAQ:IMCR opened at $55.54 on Tuesday. Immunocore has a 1-year low of $42.21 and a 1-year high of $76.98. The company’s fifty day moving average is $65.38 and its two-hundred day moving average is $60.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.77 and a current ratio of 3.80. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -47.88 and a beta of 0.89.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.40) earnings per share 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 analyst estimates of $53.25 million. During the same quarter last year, the company earned ($0.63) EPS. Immunocore’s revenue was up 22.4% compared to the same quarter last year. Equities analysts anticipate that Immunocore will post -1.54 EPS for the current year.

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.