Immunocore (NASDAQ:IMCR) Shares Gap Up - Here's What Happened

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $29.32, but opened at $30.00. Immunocore shares last traded at $29.17, with a volume of 10,918 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IMCR shares. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Immunocore in a research report on Wednesday, March 12th. Morgan Stanley reissued an "equal weight" rating and issued a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price objective on shares of Immunocore in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Immunocore presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.64.

Immunocore Stock Down 1.8 %

The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $30.03 and a 200-day moving average price of $30.95. The firm has a market capitalization of $1.48 billion, a PE ratio of -31.14 and a beta of 0.79.

Insider Buying and Selling at Immunocore

In related news, Director Bros. Advisors Lp Baker acquired 807,338 shares of Immunocore stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the purchase, the director now directly owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is owned by insiders.

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Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently modified their holdings of IMCR. GF Fund Management CO. LTD. purchased a new position in Immunocore during the fourth quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company's stock worth $248,000 after acquiring an additional 960 shares in the last quarter. NEOS Investment Management LLC boosted its stake in Immunocore by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company's stock valued at $330,000 after acquiring an additional 1,102 shares during the period. Tema Etfs LLC acquired a new position in shares of Immunocore during the fourth quarter valued at $330,000. Finally, Virtus ETF Advisers LLC raised its stake in Immunocore by 39.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company's stock valued at $340,000 after acquiring an additional 3,238 shares in the last quarter. 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.