Massachusetts Financial Services Co. MA Buys 79,444 Shares of Immunocore Holdings plc (NASDAQ:IMCR)

Massachusetts Financial Services Co. MA lifted its stake in Immunocore Holdings plc (NASDAQ:IMCR) by 25.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 390,565 shares of the company’s stock after buying an additional 79,444 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.78% of Immunocore worth $13,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. NEOS Investment Management LLC bought a new position in shares of Immunocore during the 4th quarter valued at about $262,000. Tidal Investments LLC bought a new position in Immunocore during the first quarter valued at approximately $423,000. China Universal Asset Management Co. Ltd. grew its holdings in Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock valued at $430,000 after buying an additional 2,721 shares in the last quarter. Nan Fung Group Holdings Ltd purchased a new position in Immunocore during the 1st quarter valued at approximately $439,000. Finally, DNB Asset Management AS raised its holdings in shares of Immunocore by 35.0% during the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after acquiring an additional 1,868 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IMCR. Barclays cut their target price on shares of Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Needham & Company LLC reduced their target price on shares of Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

Immunocore Trading Down 3.0 %

Shares of NASDAQ IMCR opened at $33.18 on Friday. The business’s 50 day moving average price is $36.84 and its 200-day moving average price is $46.50. Immunocore Holdings plc has a fifty-two week low of $32.37 and a fifty-two week high of $76.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -27.20 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last released its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.25. The business had revenue of $75.40 million during the quarter, compared to the consensus estimate of $74.58 million. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period last year, the company earned ($0.37) earnings per share. On average, sell-side analysts expect that Immunocore Holdings plc will post -1.79 earnings per share for the current year.

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.