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

Shares of Immunocore Holdings plc (NASDAQ:IMCR) gapped up before the market opened on Thursday following insider buying activity. 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 trading hands.

Specifically, Director Bros. Advisors Lp Baker bought 807,338 shares of the company’s stock in a transaction on Monday, March 17th. The shares were purchased at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the transaction, the director now directly owns 2,144,060 shares in the company, valued at $63,721,463.20. This represents a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts have commented on IMCR shares. Morgan Stanley reissued an “equal weight” rating and set a $35.00 target price on shares of Immunocore in a research report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $71.00 target price on shares of Immunocore in a research report on Wednesday, March 12th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. One investment 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. According to data from MarketBeat, Immunocore currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Price Performance

The company has a debt-to-equity ratio of 1.03, a current ratio of 3.78 and a quick ratio of 3.76. The firm has a market capitalization of $1.52 billion, a P/E ratio of -32.03 and a beta of 0.79. The firm’s 50 day simple moving average is $30.00 and its two-hundred day simple moving average is $31.20.

Hedge Funds Weigh In On Immunocore

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Immunocore by 10.5% in the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock valued at $219,430,000 after acquiring an additional 668,382 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Immunocore by 3.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company’s stock valued at $197,657,000 after acquiring an additional 200,373 shares during the period. FMR LLC increased its position in shares of Immunocore by 0.5% in the third quarter. FMR LLC now owns 4,836,040 shares of the company’s stock valued at $150,546,000 after acquiring an additional 23,436 shares during the period. Primecap Management Co. CA increased its position in shares of Immunocore by 8.0% in the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company’s stock valued at $78,722,000 after acquiring an additional 196,530 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Immunocore by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company’s stock valued at $64,533,000 after acquiring an additional 29,832 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.