Primecap Management Co. CA Boosts Stake in Immunocore Holdings plc (NASDAQ:IMCR)

Primecap Management Co. CA grew its position in shares of Immunocore Holdings plc (NASDAQ:IMCR) by 26.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,472,020 shares of the company’s stock after acquiring an additional 520,950 shares during the quarter. Primecap Management Co. CA owned about 4.94% of Immunocore worth $76,954,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Immunocore by 7.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 427,152 shares of the company’s stock worth $13,297,000 after purchasing an additional 29,689 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Immunocore during the third quarter worth approximately $406,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Immunocore in the third quarter worth $866,000. Assetmark Inc. increased its position in shares of Immunocore by 6.5% in the third quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock worth $951,000 after acquiring an additional 1,878 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Immunocore by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 546,318 shares of the company’s stock valued at $17,007,000 after acquiring an additional 109,206 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMCR. Mizuho downgraded Immunocore from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $38.00 in a report on Monday, November 11th. Oppenheimer reiterated an “outperform” rating and issued a $89.00 target price (up previously from $87.00) on shares of Immunocore in a research note on Friday, August 9th. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. Morgan Stanley lowered their price objective on shares of Immunocore from $80.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Needham & Company LLC dropped their price objective on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Immunocore has an average rating of “Moderate Buy” and a consensus target price of $69.18.

Immunocore Stock Down 0.9 %

Shares of NASDAQ:IMCR opened at $32.12 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of -33.81 and a beta of 0.72. The company has a fifty day simple moving average of $32.32 and a 200 day simple moving average of $37.90. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. Immunocore Holdings plc has a 12-month low of $29.72 and a 12-month high of $76.98.

Immunocore (NASDAQ:IMCR) last released its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.50. The company had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The company’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.59) EPS. On average, equities research analysts anticipate that Immunocore Holdings plc will post -0.94 EPS for the current fiscal year.

Immunocore 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.