Immunocore Holdings plc (NASDAQ:IMCR) Short Interest Down 5.4% in November

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 7,190,000 shares, a decline of 5.4% from the November 15th total of 7,600,000 shares. Currently, 14.8% of the company’s stock are short sold. Based on an average daily volume of 277,800 shares, the days-to-cover ratio is presently 25.9 days.

Immunocore Price Performance

Shares of Immunocore stock opened at $29.40 on Wednesday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -30.95 and a beta of 0.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The stock has a 50 day moving average price of $32.22 and a 200-day moving average price of $34.95. Immunocore has a one year low of $28.17 and a one year high of $76.98.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.33) by $0.50. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The company had revenue of $80.25 million during the quarter, compared to analyst estimates of $78.94 million. During the same period in the previous year, the firm earned ($0.59) earnings per share. Immunocore’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities analysts expect that Immunocore will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Immunocore

Several hedge funds have recently added to or reduced their stakes in IMCR. Envestnet Asset Management Inc. increased its stake in Immunocore by 0.9% in the second quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock worth $2,392,000 after purchasing an additional 606 shares during the period. Pier Capital LLC increased its stake in Immunocore by 1.4% in the 3rd quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock worth $2,568,000 after buying an additional 1,174 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Immunocore by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock valued at $767,000 after buying an additional 1,390 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Immunocore by 40.4% during the 3rd 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. Finally, Assetmark Inc. boosted its position in Immunocore by 6.5% in the 3rd quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock valued at $951,000 after buying an additional 1,878 shares during the period. 84.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Immunocore in a report on Thursday, October 24th. They issued a “sell” rating and a $24.00 target price for the company. Needham & Company LLC lowered their price objective on Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and set a $35.00 target price (down from $74.00) on shares of Immunocore in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research note on Thursday, October 24th. Finally, Mizuho cut Immunocore from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $72.00 to $38.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Immunocore currently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

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.