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

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s share price gapped up before the market opened 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 traded.

Specifically, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. This trade represents a 60.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

IMCR has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $71.00 target price on shares of Immunocore in a report 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 reiterated an "equal weight" rating and issued a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. One investment 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.64.

Immunocore Stock Down 0.6 %

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 business's 50 day moving average is $29.98 and its 200 day moving average is $31.05. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -31.20 and a beta of 0.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new position in shares of Immunocore in the 4th quarter valued at $25,000. China Universal Asset Management Co. Ltd. increased its position in shares of Immunocore by 12.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company's stock worth $248,000 after purchasing an additional 960 shares during the last quarter. NEOS Investment Management LLC raised its holdings in shares of 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 period. Tema Etfs LLC purchased a new position in Immunocore in the fourth quarter valued at $330,000. Finally, Virtus ETF Advisers LLC grew its stake in shares of Immunocore by 39.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock worth $340,000 after purchasing an additional 3,238 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.