Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) Short Interest Down 15.4% in March

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 10,137,184 shares, a decrease of 15.4% from the February 26th total of 11,984,360 shares. Based on an average trading volume of 356,307 shares, the short-interest ratio is currently 28.5 days. Currently, 22.3% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research analysts recently issued reports on IMCR shares. Wall Street Zen lowered Immunocore from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Mizuho set a $38.00 price target on Immunocore in a research report on Thursday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Wednesday, February 4th. Needham & Company LLC boosted their price objective on Immunocore from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Zacks Research lowered shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immunocore has a consensus rating of “Hold” and a consensus price target of $59.80.

Immunocore Stock Performance

Shares of IMCR stock opened at $29.29 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of -41.84 and a beta of 0.78. The firm has a fifty day moving average price of $32.24 and a 200 day moving average price of $33.97. The company has a current ratio of 4.04, a quick ratio of 4.01 and a debt-to-equity ratio of 1.03. Immunocore has a 12 month low of $23.15 and a 12 month high of $40.71.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.60) earnings per share for the quarter. The business had revenue of $104.48 million during the quarter. Immunocore had a negative net margin of 8.88% and a negative return on equity of 9.20%. Sell-side analysts predict that Immunocore will post -0.94 earnings per share for the current fiscal year.

Insider Activity at Immunocore

In related news, CEO Bahija Jallal sold 11,474 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $32.35, for a total transaction of $371,183.90. Following the sale, the chief executive officer directly owned 12,343 shares of the company’s stock, valued at $399,296.05. This represents a 48.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leger Tina Amber St sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $32,350.00. Following the sale, the insider directly owned 1,119 shares in the company, valued at $36,199.65. This represents a 47.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,137 shares of company stock worth $619,082 in the last three months. 10.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bellevue Group AG boosted its holdings in Immunocore by 99.9% in the second quarter. Bellevue Group AG now owns 2,441,830 shares of the company’s stock valued at $76,625,000 after purchasing an additional 1,220,036 shares in the last quarter. BVF Inc. IL purchased a new position in Immunocore in the second quarter valued at approximately $32,142,000. Millennium Management LLC raised its holdings in Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock worth $45,993,000 after purchasing an additional 974,463 shares in the last quarter. Vestal Point Capital LP purchased a new stake in shares of Immunocore during the 4th quarter worth approximately $20,305,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Immunocore during the 4th quarter worth approximately $15,734,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T‐cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.