Immunocore (NASDAQ:IMCR) Shares Gap Up – Time to Buy?

Shares of Immunocore Holdings plc (NASDAQ:IMCR) 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IMCR shares. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Immunocore in a report on Wednesday, March 12th. Needham & Company LLC restated a “buy” rating and set a $71.00 target price on shares of Immunocore in a research note on Wednesday, March 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 price target 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Stock 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 business’s fifty day moving average price is $30.00 and its two-hundred day moving average price is $31.02. The stock has a market capitalization of $1.49 billion, a P/E ratio of -31.12 and a beta of 0.79.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.10% of the stock is owned by insiders.

Institutional Trading of Immunocore

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new position in Immunocore in the 4th quarter worth about $4,868,000. GF Fund Management CO. LTD. bought a new stake in Immunocore during the 4th quarter valued at $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 buying an additional 53,378 shares during the period. Tang Capital Management LLC increased its stake 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 valued at $45,890,000 after buying an additional 450,000 shares during the period. Finally, Tema Etfs LLC bought a new stake in shares of Immunocore in the fourth quarter valued at about $330,000. 84.50% of the stock is currently owned by institutional investors.

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.