Principal Financial Group Inc. Grows Stock Holdings in Immunocore Holdings plc (NASDAQ:IMCR)

Principal Financial Group Inc. grew its holdings in shares of Immunocore Holdings plc (NASDAQ:IMCR - Free Report) by 25.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 546,318 shares of the company's stock after buying an additional 109,206 shares during the quarter. Principal Financial Group Inc. owned 1.09% of Immunocore worth $17,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA grew its stake in Immunocore by 3,841.6% in the 2nd quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company's stock worth $66,122,000 after acquiring an additional 1,901,570 shares in the last quarter. Armistice Capital LLC grew its stake in Immunocore by 495.1% in the second quarter. Armistice Capital LLC now owns 976,000 shares of the company's stock worth $33,077,000 after purchasing an additional 812,000 shares in the last quarter. Wellington Management Group LLP increased its holdings in Immunocore by 10.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company's stock worth $219,430,000 after purchasing an additional 668,382 shares during the period. Millennium Management LLC raised its position in Immunocore by 124.4% during the 2nd quarter. Millennium Management LLC now owns 600,954 shares of the company's stock valued at $20,366,000 after purchasing an additional 333,167 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Immunocore by 65.6% in the 3rd quarter. Two Sigma Advisers LP now owns 757,700 shares of the company's stock worth $23,587,000 after buying an additional 300,200 shares during the period. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

Immunocore Stock Performance

Immunocore stock traded down $1.04 during mid-day trading on Friday, reaching $29.18. 182,145 shares of the company traded hands, compared to its average volume of 496,707. The firm's fifty day moving average is $31.66 and its two-hundred day moving average is $34.25. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -30.72 and a beta of 0.73. Immunocore Holdings plc has a fifty-two week low of $27.69 and a fifty-two week high of $76.98. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on IMCR shares. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Immunocore in a research note on Thursday, October 24th. 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. Mizuho lowered Immunocore from an "outperform" rating to a "neutral" rating and cut their target price for the company from $72.00 to $38.00 in a research note on Monday, November 11th. Morgan Stanley reissued an "equal weight" rating and set a $35.00 price target (down from $74.00) on shares of Immunocore in a research report on Friday, December 13th. Finally, Guggenheim cut shares of Immunocore from a "buy" rating to a "neutral" rating in a report on Monday, October 7th. One 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.