Mizuho Has Lowered Expectations for Immunocore (NASDAQ:IMCR) Stock Price

Immunocore (NASDAQ:IMCR) had its target price reduced by stock analysts at Mizuho from $38.00 to $33.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential upside of 25.75% from the stock’s current price.

IMCR has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $71.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.18.

Immunocore Trading Down 3.7 %

IMCR stock traded down $1.02 during midday trading on Monday, hitting $26.24. The stock had a trading volume of 404,118 shares, compared to its average volume of 293,061. 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 business has a fifty day moving average price of $29.80 and a two-hundred day moving average price of $30.77. Immunocore has a 1-year low of $24.84 and a 1-year high of $63.94. The firm has a market cap of $1.31 billion, a P/E ratio of -27.51 and a beta of 0.75.

Insider Activity at Immunocore

In related news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the purchase, the director now directly owns 2,144,060 shares in the company, valued at $63,721,463.20. This trade represents a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.10% of the stock is owned by company insiders.

Institutional Trading of Immunocore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Immunocore by 10.5% in the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after acquiring an additional 668,382 shares during the period. Groupama Asset Managment acquired a new position in shares of Immunocore in the 4th quarter valued at about $17,700,000. Deep Track Capital LP purchased a new stake in Immunocore in the 4th quarter worth approximately $15,322,000. Tang Capital Management LLC increased its holdings in Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock valued at $45,890,000 after buying an additional 450,000 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Immunocore in the fourth quarter valued at approximately $11,897,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.