Immunocore Holdings plc (NASDAQ:IMCR) Short Interest Down 5.4% in November

Immunocore Holdings plc (NASDAQ:IMCR) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 7,190,000 shares, a decline of 5.4% from the November 15th total of 7,600,000 shares. Based on an average trading volume of 277,800 shares, the days-to-cover ratio is currently 25.9 days. Approximately 14.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its stake in Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after buying an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in Immunocore during the 3rd quarter worth $218,000. China Universal Asset Management Co. Ltd. raised its position in shares of Immunocore by 69.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after buying an additional 3,053 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Immunocore in the second quarter worth about $303,000. Finally, GSA Capital Partners LLP purchased a new stake in Immunocore during the 3rd quarter valued at about $406,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Stock Performance

NASDAQ IMCR opened at $29.40 on Wednesday. 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 has a twelve month low of $28.17 and a twelve month high of $76.98. The stock has a 50-day moving average of $32.22 and a 200 day moving average of $34.95. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -30.95 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. The firm had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.59) EPS. Sell-side analysts anticipate that Immunocore will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMCR has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Needham & Company LLC decreased their target price on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price target (down from $74.00) on shares of Immunocore in a report on Friday, December 13th. Mizuho lowered Immunocore from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.64.

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.