Immunocore (NASDAQ:IMCR) Shares Gap Up – Time to Buy?

Immunocore Holdings plc (NASDAQ:IMCR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $32.45, but opened at $34.07. Immunocore shares last traded at $34.07, with a volume of 1,023 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on IMCR. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reduced their target price on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. UBS Group started coverage on shares of Immunocore in a research report on Thursday, October 24th. They set a “sell” rating and a $24.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.18.

Immunocore Stock Performance

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -34.56 and a beta of 0.72. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $32.23 and a 200-day simple moving average of $36.95.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.50. The business had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.59) earnings per share. Analysts forecast that Immunocore Holdings plc will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Several large investors have recently bought and sold shares of IMCR. Exchange Traded Concepts LLC raised its position in shares of Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after acquiring an additional 1,461 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in Immunocore in the third quarter valued at about $218,000. China Universal Asset Management Co. Ltd. lifted its stake in Immunocore by 69.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after buying an additional 3,053 shares during the period. DNB Asset Management AS boosted its holdings in Immunocore by 35.0% during the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after buying an additional 1,868 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Immunocore during the 2nd quarter worth about $303,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

About Immunocore

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.