Immunocore (NASDAQ:IMCR) Shares Gap Up – Should You Buy?

Immunocore Holdings plc (NASDAQ:IMCR) gapped up before the market opened on Wednesday . The stock had previously closed at $29.32, but opened at $30.00. Immunocore shares last traded at $29.17, with a volume of 10,918 shares.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and set a $35.00 target price on shares of Immunocore in a research report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research report on Wednesday, March 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $71.00 target price on shares of Immunocore in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Immunocore currently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Trading Up 2.2 %

The business has a 50 day simple moving average of $30.02 and a two-hundred day simple moving average of $31.01. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.51 billion, a PE ratio of -31.72 and a beta of 0.79.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the transaction, the director now owns 2,144,060 shares of the company’s stock, valued at approximately $63,721,463.20. This trade represents a 60.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by company insiders.

Institutional Trading of Immunocore

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in Immunocore by 0.5% during the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock worth $150,546,000 after acquiring an additional 23,436 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Immunocore by 7,437.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock valued at $2,872,000 after buying an additional 91,033 shares during the period. Verition Fund Management LLC acquired a new position in Immunocore during the third quarter valued at approximately $739,000. Bellevue Group AG increased its position in shares of Immunocore by 4.4% in the third quarter. Bellevue Group AG now owns 1,205,464 shares of the company’s stock worth $37,526,000 after acquiring an additional 50,810 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Immunocore by 63.9% in the 3rd quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after acquiring an additional 29,897 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.