Immunocore (NASDAQ:IMCR) Shares Gap Up on Insider Buying Activity

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $28.71, but opened at $29.60. Immunocore shares last traded at $30.78, with a volume of 199,364 shares trading hands.

Specifically, Director Bros. Advisors Lp Baker purchased 807,338 shares of Immunocore stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the transaction, the director now owns 2,144,060 shares in the company, valued at $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

IMCR has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $71.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $35.00 price target on shares of Immunocore in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Stock Down 2.0 %

The firm has a market cap of $1.49 billion, a P/E ratio of -31.38 and a beta of 0.79. The business’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $31.16. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Immunocore by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 35,492 shares of the company’s stock valued at $1,047,000 after buying an additional 420 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Immunocore in the 4th quarter valued at $25,000. China Universal Asset Management Co. Ltd. grew its stake in Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock valued at $248,000 after buying an additional 960 shares during the last quarter. NEOS Investment Management LLC grew its stake in Immunocore by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock valued at $330,000 after buying an additional 1,102 shares during the last quarter. Finally, Pier Capital LLC grew its stake in Immunocore by 1.4% in the 3rd quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock valued at $2,568,000 after buying an additional 1,174 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

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.