Immunocore (NASDAQ:IMCR) Sees Large Volume Increase - Here's Why

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 354,591 shares changed hands during trading, an increase of 23% from the previous session's volume of 288,113 shares.The stock last traded at $29.27 and had previously closed at $28.63.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IMCR shares. Mizuho lowered their price target on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday. Needham & Company LLC restated a "buy" rating and issued a $71.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of Immunocore in a research report on Wednesday, March 12th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $35.00 target price on shares of Immunocore in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Immunocore currently has an average rating of "Moderate Buy" and a consensus target price of $65.18.

Immunocore Price Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The stock's 50 day simple moving average is $29.80 and its two-hundred day simple moving average is $30.77. The firm has a market capitalization of $1.31 billion, a PE ratio of -27.60 and a beta of 0.75.

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Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Immunocore by 3,318.1% in the 1st quarter. GAMMA Investing LLC now owns 19,107 shares of the company's stock valued at $5,670,000 after purchasing an additional 18,548 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Immunocore during the fourth quarter worth about $4,868,000. GF Fund Management CO. LTD. acquired a new stake in shares of Immunocore during the fourth quarter valued at about $25,000. Woodline Partners LP lifted its holdings in shares of Immunocore by 19.4% in the 4th quarter. Woodline Partners LP now owns 328,059 shares of the company's stock worth $9,678,000 after acquiring an additional 53,378 shares during the last quarter. Finally, Tang Capital Management LLC boosted its position in shares of Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock worth $45,890,000 after purchasing an additional 450,000 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.