Short Interest in Immunocore Holdings plc (NASDAQ:IMCR) Decreases By 5.5%

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 5,870,000 shares, a decrease of 5.5% from the June 15th total of 6,210,000 shares. Based on an average daily volume of 784,900 shares, the short-interest ratio is currently 7.5 days. Approximately 12.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Immunocore

Institutional investors have recently added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new stake in shares of Immunocore in the third quarter valued at $411,000. Exchange Traded Concepts LLC grew its stake in shares of 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 purchasing an additional 674 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Immunocore by 83.5% in the 4th quarter. SG Americas Securities LLC now owns 12,569 shares of the company’s stock worth $859,000 after purchasing an additional 5,720 shares in the last quarter. Legato Capital Management LLC boosted its holdings in Immunocore by 61.7% during the fourth quarter. Legato Capital Management LLC now owns 7,235 shares of the company’s stock worth $494,000 after buying an additional 2,762 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in Immunocore in the fourth quarter worth approximately $230,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMCR. Needham & Company LLC restated a “buy” rating and issued a $81.00 price target on shares of Immunocore in a research note on Monday, June 3rd. SVB Leerink assumed coverage on Immunocore in a report on Monday, April 29th. They issued an “outperform” rating and a $74.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Mizuho dropped their price target on Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Immunocore in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.54.

Immunocore Stock Performance

Immunocore stock traded down $1.22 during mid-day trading on Wednesday, hitting $40.27. 132,506 shares of the company’s stock traded hands, compared to its average volume of 622,194. Immunocore has a one year low of $33.04 and a one year high of $76.98. The company has a market cap of $2.01 billion, a PE ratio of -34.01 and a beta of 0.74. The firm has a 50 day moving average price of $43.19 and a 200 day moving average price of $57.82. 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 (NASDAQ:IMCR) last announced its earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The company had revenue of $70.30 million during the quarter, compared to the consensus estimate of $70.72 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, equities analysts forecast that Immunocore will post -1.98 EPS for the current year.

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.