Short Interest in Immunocore Holdings plc (NASDAQ:IMCR) Declines By 7.0%

Immunocore Holdings plc (NASDAQ:IMCR) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 6,210,000 shares, a drop of 7.0% from the May 31st total of 6,680,000 shares. Based on an average daily volume of 751,300 shares, the short-interest ratio is presently 8.3 days. Currently, 12.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IMCR shares. Needham & Company LLC reissued a “buy” rating and set a $81.00 target price on shares of Immunocore in a research note on Monday, June 3rd. Mizuho lowered their target price on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Canaccord Genuity Group increased their target price on shares of Immunocore from $63.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, May 9th. Leerink Partnrs reissued an “outperform” rating on shares of Immunocore in a research note on Monday, April 29th. Finally, SVB Leerink began coverage on shares of Immunocore in a research note on Monday, April 29th. They set an “outperform” rating and a $74.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and a consensus target price of $81.85.

Immunocore Trading Up 3.5 %

Shares of Immunocore stock opened at $36.02 on Thursday. Immunocore has a 12-month low of $33.04 and a 12-month high of $76.98. The company has a current ratio of 5.96, a quick ratio of 5.94 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.80 billion, a PE ratio of -29.52 and a beta of 0.75. The company has a 50-day moving average of $46.96 and a two-hundred day moving average of $59.53.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The business had revenue of $70.30 million during the quarter, compared to analyst estimates of $70.72 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. On average, research analysts anticipate that Immunocore will post -1.88 EPS for the current fiscal year.

Institutional Trading of Immunocore

Hedge funds have recently bought and sold shares of the company. Trexquant Investment LP raised its stake in Immunocore by 233.7% during the third quarter. Trexquant Investment LP now owns 26,799 shares of the company’s stock worth $1,391,000 after purchasing an additional 18,768 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Immunocore by 102.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 125,199 shares of the company’s stock valued at $6,498,000 after acquiring an additional 63,232 shares during the period. RTW Investments LP raised its stake in shares of Immunocore by 1.1% in the 3rd quarter. RTW Investments LP now owns 6,096,387 shares of the company’s stock valued at $316,402,000 after acquiring an additional 66,754 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Immunocore in the 3rd quarter valued at $411,000. Finally, Polar Capital Holdings Plc raised its stake in shares of Immunocore by 490.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 250,000 shares of the company’s stock valued at $12,975,000 after acquiring an additional 207,664 shares during the period. 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.