Short Interest in Immunocore Holdings plc (NASDAQ:IMCR) Declines By 7.0%

Immunocore Holdings plc (NASDAQ:IMCR) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 6,210,000 shares, a drop of 7.0% from the May 31st total of 6,680,000 shares. Based on an average daily volume of 751,300 shares, the short-interest ratio is presently 8.3 days. Currently, 12.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IMCR. Trexquant Investment LP grew its holdings in shares of Immunocore by 233.7% during the third quarter. Trexquant Investment LP now owns 26,799 shares of the company’s stock worth $1,391,000 after purchasing an additional 18,768 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Immunocore by 102.0% during the third quarter. Qube Research & Technologies Ltd now owns 125,199 shares of the company’s stock worth $6,498,000 after purchasing an additional 63,232 shares in the last quarter. RTW Investments LP lifted its position in Immunocore by 1.1% in the 3rd quarter. RTW Investments LP now owns 6,096,387 shares of the company’s stock worth $316,402,000 after buying an additional 66,754 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Immunocore in the 3rd quarter worth approximately $411,000. Finally, Polar Capital Holdings Plc lifted its position in Immunocore by 490.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 250,000 shares of the company’s stock worth $12,975,000 after buying an additional 207,664 shares during the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IMCR shares. Guggenheim restated a “buy” rating and set a $92.00 price objective on shares of Immunocore in a research note on Tuesday, April 23rd. Needham & Company LLC restated a “buy” rating and set a $81.00 price objective on shares of Immunocore in a research note on Monday, June 3rd. Leerink Partnrs restated an “outperform” rating on shares of Immunocore in a research note on Monday, April 29th. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Wednesday, June 5th. Finally, Canaccord Genuity Group raised their price objective on Immunocore from $63.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.85.

Immunocore Stock Up 3.6 %

IMCR traded up $1.24 during trading hours on Wednesday, hitting $36.04. The stock had a trading volume of 185,958 shares, compared to its average volume of 638,595. The company has a current ratio of 5.96, a quick ratio of 5.94 and a debt-to-equity ratio of 1.22. Immunocore has a 1 year low of $33.04 and a 1 year high of $76.98. The company’s fifty day simple moving average is $47.41 and its 200 day simple moving average is $59.69.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The company had revenue of $70.30 million for the quarter, compared to analysts’ expectations of $70.72 million. During the same period in the previous year, the firm earned ($0.35) EPS. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. Analysts predict that Immunocore will post -1.88 earnings per share for the current fiscal year.

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.