Short Interest in Immunocore Holdings plc (NASDAQ:IMCR) Rises By 9.0%

Immunocore Holdings plc (NASDAQ:IMCR) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 5,920,000 shares, an increase of 9.0% from the July 31st total of 5,430,000 shares. Based on an average daily volume of 691,100 shares, the short-interest ratio is currently 8.6 days. Currently, 12.2% of the shares of the stock are sold short.

Institutional Trading of Immunocore

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its holdings in Immunocore by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock valued at $2,392,000 after acquiring an additional 606 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Immunocore by 6.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock worth $767,000 after buying an additional 1,390 shares in the last quarter. Trexquant Investment LP increased its holdings in Immunocore by 6.5% in the 4th quarter. Trexquant Investment LP now owns 28,545 shares of the company’s stock valued at $1,950,000 after buying an additional 1,746 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Immunocore by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock valued at $5,695,000 after buying an additional 1,830 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Immunocore by 35.0% in the second quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.

Immunocore Stock Up 3.6 %

Shares of NASDAQ:IMCR traded up $1.25 during midday trading on Friday, hitting $35.88. 812,668 shares of the stock were exchanged, compared to its average volume of 393,377. The company has a market capitalization of $1.79 billion, a PE ratio of -29.41 and a beta of 0.75. Immunocore has a 52-week low of $33.04 and a 52-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 business’s fifty day simple moving average is $37.50 and its two-hundred day simple moving average is $50.04.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business had revenue of $75.40 million for the quarter, compared to the consensus estimate of $74.58 million. During the same quarter last year, the firm earned ($0.37) EPS. Immunocore’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, research analysts predict that Immunocore will post -1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on IMCR. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Wednesday. Oppenheimer restated an “outperform” rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Canaccord Genuity Group boosted their target price on shares of Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Finally, Mizuho decreased their target price on Immunocore from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.70.

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.