Immunocore (NASDAQ:IMCR) Sees Strong Trading Volume – Still a Buy?

Shares of Immunocore Holdings plc (NASDAQ:IMCR) saw an uptick in trading volume on Wednesday . 578,584 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 288,801 shares.The stock last traded at $29.03 and had previously closed at $28.56.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMCR. Needham & Company LLC restated a “buy” rating and set a $71.00 price target on shares of Immunocore in a research note on Friday, January 10th. UBS Group began coverage on Immunocore in a research report on Thursday, October 24th. They set a “sell” rating and a $24.00 price objective on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 target price (down from $74.00) on shares of Immunocore in a research report on Friday, December 13th. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $38.00 in a report on Monday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Up 3.0 %

The stock has a market capitalization of $1.47 billion, a P/E ratio of -30.98 and a beta of 0.76. 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’s fifty day moving average is $31.05 and its 200-day moving average is $33.69.

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

Hedge Funds Weigh In On Immunocore

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its stake in shares of Immunocore by 40.4% in the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after buying an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in Immunocore in the 3rd quarter valued at about $218,000. China Universal Asset Management Co. Ltd. increased its position in Immunocore by 69.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after acquiring an additional 3,053 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Immunocore in the second quarter worth about $303,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Immunocore during the third quarter worth approximately $406,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

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.