Immunocore (NASDAQ:IMCR) Given New $50.00 Price Target at JPMorgan Chase & Co.

Immunocore (NASDAQ:IMCR - Free Report) had its price target reduced by JPMorgan Chase & Co. from $54.00 to $50.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on IMCR. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. Mizuho reduced their target price on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Morgan Stanley reissued an "equal weight" rating and set a $35.00 price objective on shares of Immunocore in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Immunocore in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.73.

Immunocore Stock Performance

IMCR stock traded up $0.54 on Monday, hitting $28.41. The company had a trading volume of 189,741 shares, compared to its average volume of 440,190. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -29.90 and a beta of 0.75. 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 stock's 50-day simple moving average is $28.74 and its 200 day simple moving average is $30.38. Immunocore has a 12-month low of $23.15 and a 12-month high of $62.74.

Insider Buying and Selling at Immunocore

In other news, Director Bros. Advisors Lp Baker bought 807,338 shares of the stock in a transaction dated Monday, March 17th. The stock was purchased at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the acquisition, the director now owns 2,144,060 shares of the company's stock, valued at $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunocore

Several hedge funds and other institutional investors have recently modified their holdings of IMCR. T. Rowe Price Investment Management Inc. increased its stake in Immunocore by 3.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company's stock worth $197,657,000 after purchasing an additional 200,373 shares during the period. Primecap Management Co. CA boosted its position in Immunocore by 8.0% in the 4th quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company's stock valued at $78,722,000 after buying an additional 196,530 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Immunocore by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company's stock worth $64,533,000 after acquiring an additional 29,832 shares in the last quarter. Tang Capital Management LLC increased its position in shares of Immunocore by 40.7% during the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock worth $45,890,000 after acquiring an additional 450,000 shares during the period. Finally, Groupama Asset Managment bought a new stake in shares of Immunocore during the fourth quarter valued at approximately $17,700,000. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

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.