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

Immunocore Holdings plc (NASDAQ:IMCR) experienced a notable increase in its share price prior to the market opening on Thursday, following recent insider buying activity. The company's stock, which had closed at $28.71, opened at $29.60. As of the latest transactions, Immunocore shares had reached $30.78, with a trading volume of 199,364 shares.

Director Bros. Advisors Lp Baker significantly increased their stake in the company by purchasing 807,338 shares on March 17th. These shares were acquired at an average price of $29.72 each, for a total investment of approximately $23,994,085.36. After this purchase, the director owns 2,144,060 shares of Immunocore, which are valued at around $63,721,463.20, representing a 60.40% increase in their holdings. This transaction has been officially reported to the Securities & Exchange Commission.

Wall Street Analysts' Perspectives

Several analysts have recently provided their insights regarding Immunocore's stock. HC Wainwright maintained a "buy" rating, with a price target set at $100.00, in a report released on March 12th. Morgan Stanley, on the other hand, assigned an "equal weight" rating with a price target of $35.00 on March 7th. Needham & Company LLC also retained a "buy" rating, setting a price target of $71.00. Currently, one analyst recommends a sell, four suggest holding the stock, while eight analysts advocate for buying. Overall, Immunocore has a consensus rating of "Moderate Buy" and a consensus price target of $65.64, according to MarketBeat data.

Immunocore's Stock Performance

The current financial health of Immunocore includes a debt-to-equity ratio of 1.03, a current ratio of 3.78, and a quick ratio of 3.76. The company's 50-day moving average price is $30.00, while the 200-day moving average price stands at $31.21. With a market capitalization of $1.57 billion, the stock has a price-to-earnings ratio of -32.82 and a beta of 0.79.

Recent Institutional Activity

Institutional investors have also been adjusting their positions in Immunocore. GF Fund Management CO. LTD. entered the stock with a new stake valued at approximately $25,000 during the fourth quarter. Additionally, China Universal Asset Management Co. Ltd. grew its position by 12.9%, acquiring a total of 8,393 shares worth $248,000 after purchasing an additional 960 shares recently. NEOS Investment Management LLC upped its holdings by 10.9%, owning 11,194 shares valued at $330,000 after buying an extra 1,102 shares.
Other institutions, such as Tema Etfs LLC and Virtus ETF Advisers LLC, have also increased their investments, bringing the combined institutional ownership of the company to 84.50%.

About Immunocore

Immunocore Holdings plc is a biopharmaceutical company focused on developing immunotherapy solutions for cancer, infectious, and autoimmune diseases. It markets KIMMTRAK, a treatment for patients with unresectable or metastatic uveal melanoma, and is in the process of developing other oncology therapies, including tebentafusp, which is currently in a Phase 2/3 clinical trial targeting advanced cutaneous melanoma.

Conclusion

With the backdrop of significant insider buying and continued institutional interest, Immunocore appears to be positioned for potential growth as it navigates the biopharmaceutical landscape. Investors should consider the various analyst ratings and market conditions when evaluating their positions in the company.

Immunocore, stocks, insider