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 during the month of 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. Approximately 22.3% of the company’s stock are short sold. Based on an average daily volume of 356,307 shares, the days-to-cover ratio is currently 28.5 days.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho set a $38.00 target price on shares of Immunocore in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a report on Wednesday, February 4th. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research downgraded Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.80.

Immunocore Stock Up 2.9%

NASDAQ:IMCR opened at $30.15 on Wednesday. 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 twelve month low of $23.15 and a twelve month high of $40.71. The company has a market cap of $1.53 billion, a PE ratio of -43.07 and a beta of 0.78. The company’s 50 day moving average is $32.18 and its two-hundred day moving average is $33.93.

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

Insider Activity at Immunocore

In related news, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $192,967.75. Following the sale, the insider owned 5,859 shares of the company’s stock, valued at $189,538.65. This trade represents a 50.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bahija Jallal sold 11,474 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $371,183.90. Following the completion of the transaction, the chief executive officer owned 12,343 shares of the company’s stock, valued at $399,296.05. This represents a 48.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,137 shares of company stock valued at $619,082 over the last quarter. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Immunocore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMCR. Rockefeller Capital Management L.P. purchased a new stake in Immunocore during the 4th quarter valued at about $47,000. XTX Topco Ltd purchased a new position in shares of Immunocore in the fourth quarter worth about $763,000. Voloridge Investment Management LLC acquired a new stake in shares of Immunocore during the fourth quarter worth about $978,000. Vestal Point Capital LP acquired a new stake in shares of Immunocore during the fourth quarter worth about $20,305,000. Finally, Virtus Investment Advisers LLC boosted its position in Immunocore by 48.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 18,569 shares of the company’s stock valued at $645,000 after buying an additional 6,097 shares during the last quarter. 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.