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

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

Analyst Ratings Changes

IMCR has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research report on Wednesday, June 5th. Mizuho decreased their price objective on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a report on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of Immunocore in a report on Monday, June 3rd. JPMorgan Chase & Co. increased their price objective on shares of Immunocore from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Immunocore in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.85.

Immunocore Stock Up 3.6 %

Shares of NASDAQ:IMCR traded up $1.24 during mid-day trading on Wednesday, hitting $36.04. The stock had a trading volume of 185,958 shares, compared to its average volume of 638,595. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. Immunocore has a 12-month low of $33.04 and a 12-month high of $76.98. The company’s 50 day moving average is $47.41 and its 200-day moving average is $59.69.

Immunocore (NASDAQ:IMCR) last issued 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 firm had revenue of $70.30 million during the quarter, compared to analysts’ expectations 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 was up 27.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. On average, equities analysts forecast that Immunocore will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMCR. Exchange Traded Concepts LLC lifted its position in Immunocore by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after buying an additional 674 shares in the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in Immunocore in the 4th quarter worth approximately $230,000. NEOS Investment Management LLC purchased a new stake in Immunocore in the 4th quarter worth approximately $262,000. China Universal Asset Management Co. Ltd. lifted its position in Immunocore by 366.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock worth $266,000 after buying an additional 3,064 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Immunocore in the 3rd quarter worth approximately $411,000. 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.