Immunocore Holdings plc (NASDAQ:IMCR) Short Interest Down 6.2% in July

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 5,430,000 shares, a decrease of 6.2% from the July 15th total of 5,790,000 shares. Currently, 11.2% of the shares of the company are short sold. Based on an average daily volume of 745,300 shares, the short-interest ratio is presently 7.3 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $89.00 price target (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Canaccord Genuity Group upped their price target on shares of Immunocore from $63.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Mizuho cut their price target 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. SVB Leerink assumed coverage on shares of Immunocore in a report on Monday, April 29th. They set an “outperform” rating and a $74.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $92.00 price target on shares of Immunocore in a report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.70.

Hedge Funds Weigh In On Immunocore

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. acquired a new position in Immunocore in the 2nd quarter valued at approximately $3,686,000. The Manufacturers Life Insurance Company grew its holdings in Immunocore by 37.2% in the second quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock worth $4,126,000 after purchasing an additional 33,003 shares during the period. Millennium Management LLC grew its holdings in Immunocore by 124.4% in the second quarter. Millennium Management LLC now owns 600,954 shares of the company’s stock worth $20,366,000 after purchasing an additional 333,167 shares during the period. Armistice Capital LLC grew its holdings in Immunocore by 495.1% in the second quarter. Armistice Capital LLC now owns 976,000 shares of the company’s stock worth $33,077,000 after purchasing an additional 812,000 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Immunocore by 2,265.8% in the second quarter. Squarepoint Ops LLC now owns 73,766 shares of the company’s stock worth $2,500,000 after purchasing an additional 70,648 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Immunocore Price Performance

Shares of NASDAQ:IMCR opened at $37.10 on Wednesday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -30.41 and a beta of 0.75. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.96 and a quick ratio of 5.94. The firm has a 50 day simple moving average of $37.72 and a 200 day simple moving average of $52.03. Immunocore has a one year low of $33.04 and a one year high of $76.98.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, beating 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 net margin of 22.60% and a negative return on equity of 16.54%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.37) EPS. Research analysts predict that Immunocore will post -1.98 earnings per share for the current fiscal 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.