Immunocore Holdings plc made a public disclosure
SEC 8-KRead source ↗
Immunocore Holdings plc is a US-listed company in the biotechnology industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$29
Forward price-to-sales vs peers
Base case. Range ~$29–$110. Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Immunocore Holdings plc valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 4 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
- Funds78 adding, 70 cuttingOf 41 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 196% in the quarter to 2026-06-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Immunocore Holdings plc's latest figures clears our strength thresholds.
Things to watch
- Heavily shorted. 16.8% of the shares available to trade are sold short (17.1 days of average volume to cover).
- Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
Latest results
- Earnings per share
- -$0.02 against an average estimate of $0.02: missed by 195.6%
- Share reaction
- +2.1% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
- Next report
- November 5, 2026; average EPS estimate -$0.13
Price chart
- 1 day-0.8%
- 1 week-3.3%
- 1 month+1.8%
- This year-12.9%
- 1 year-8.6%
- 5 years-20.7%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 6, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Announcement
- Results
Immunocore Holdings plc reported results
SEC 8-KRead source ↗
Valuation models
We value Immunocore Holdings plc as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: no revenue, margin or share count to start from |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$29 ~$30–$110 | Included, half weight |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$29 ~$29–$110 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Immunocore Holdings plc with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 5, 2026, before the open. Analysts expect revenue of $113m and EPS of −$0.13 (range −$0.26 to $0.00) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$0.05 | +93% | $453m | +13% |
| Next | −$0.77 | −961% | $489m | +8% |
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −128.9% on 90 days ago. In the last 30 days, 5 analysts raised Immunocore Holdings plc's forecast and 6 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $0.16 | −$0.52 |
| 60 days ago | −$0.05 | −$0.75 |
| 30 days ago | −$0.05 | −$0.75 |
| 7 days ago | −$0.04 | −$0.77 |
| Now | −$0.05 | −$0.77 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.02 | −$0.02 | −195.6% |
| Mar 2026 | −$0.26 | $0.25 | +196.5% |
| Dec 2025 | −$0.20 | −$0.60 | −196.0% |
| Sept 2025 | −$0.24 | $0.00 | +100.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 16.8% of tradable shares
- Days to cover
- 17.07 at average volume
- Short interest, 1 month
- +0% to October 15, 2026
- Held by institutions
- — of shares
- Held by insiders
- 0.1% of shares
- Employees
- 524 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|
| Return | |||||
| IMCR | +67% | +20% | −57% | +18% | −13% |
| Industry peers (median) | −57% | −18% | −28% | −5% | −27% |
| S&P 500 | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | |||||
| IMCR | 58% | 50% | 25% | 58% | 46% |
| S&P 500 | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | |||||
| IMCR | −45% | −36% | −63% | −26% | −26% |
| S&P 500 | −25% | −10% | −8% | −19% | −9% |
Worst fall since February 5, 2021: 67% from February 7, 2024 to April 8, 2025. Getting back needed a 207% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $27.79 – $40.22
- From 52-week high
- −24.8%
- vs 50-day average
- −6.2%
- vs 200-day average
- −4.8%
- Volatility (1 year)
- 37%
- Beta vs S&P 500
- 0.59
Share price after results
- Next day
- 7 up, 5 down typical move ±3.2%
- After a week
- 8 up, 4 down typical move ±3.6%
- After a month
- 5 up, 7 down typical move ±12.1%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 6, 2026 | +2.1% | +0.5% | +2.7% | +8.5% |
| May 6, 2026 | +6.2% | +1.1% | +0.4% | −1.9% |
| February 25, 2026 | −4.9% | +0.3% | +0.1% | −9.4% |
| January 9, 2026 | −1.2% | +0.8% | +0.9% | −0.7% |
| November 6, 2025 | +8.8% | −1.0% | +14.8% | +23.7% |
| August 7, 2025 | −0.4% | +0.7% | +3.0% | +14.1% |
| May 7, 2025 | +6.2% | +1.1% | −1.3% | +32.8% |
| February 26, 2025 | +1.3% | −1.5% | +3.6% | +3.1% |
| January 10, 2025 | −0.7% | −1.4% | −4.0% | −6.7% |
| November 6, 2024 | +4.0% | +3.3% | +3.6% | −4.5% |
| August 8, 2024 | +0.8% | +2.8% | −0.4% | −8.2% |
| May 8, 2024 | −1.9% | +0.6% | −8.2% | −31.7% |
Fundamentals
Where the revenue comes from
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Sale of Therapies | $400M | 100.0% | ▲ 29.0% |
| Collaboration Revenue | $0 | 0.0% | ▼ 100.0% |
From Immunocore Holdings plc's 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
Who owns it
Funds buying and selling- Reported value
- $1.7B
- Institutions reporting
- 136
- Shares held vs prior quarter
- 0.0%
- Positions opened / closed
- 26 / 31
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Wellington Management Group LLP | $182M | 5.7M | 10.9% | ▲ 21.6% |
| RTW Investments, LP | $155M | 4.9M | 9.3% | 0.0% |
| FMR LLC | $137M | 4.3M | 8.2% | ▼ 10.8% |
| Primecap Management Co | $116M | 3.6M | 6.9% | ▼ 1.5% |
| Bellevue Group AG | $88.5M | 2.8M | 5.3% | ▼ 0.3% |
| Tang Capital Management LLC | $84.1M | 2.6M | 5.1% | 0.0% |
| Vestal Point Capital, LP | $57.1M | 1.8M | 3.4% | ▼ 34.9% |
| Two Sigma Investments, LP | $52.4M | 1.6M | 3.1% | ▲ 61.5% |
| Millennium Management LLC | $50.7M | 1.6M | 3.0% | ▲ 29.1% |
| Armistice Capital, LLC | $45.3M | 1.4M | 2.7% | ▲ 20.2% |
| Caligan Partners LP | $43.9M | 1.4M | 2.6% | New |
| Kynam Capital Management, LP | $43.7M | 1.4M | 2.6% | ▲ 55.4% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Immunocore Holdings plc's complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.6M 10 trades by 4 insiders · 89% under pre-set plans
Net ▼ $5.6M net selling
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Berman David M HEAD OF R&D | February 18, 2026 | Sell | 5,965 | $32.35 | $192,968 |
| St Leger Tina Amber CHIEF HR OFFICER | February 18, 2026 | Sell | 1,000 | $32.35 | $32,350 |
| Goll John SVP, FINANCE & CAO | February 18, 2026 | Sell | 698 | $32.35 | $22,580 |
| Jallal Bahija CHIEF EXECUTIVE OFFICER | February 18, 2026 | Sell | 11,474 | $32.35 | $371,184 |
| Berman David M HEAD OF R&D | December 5, 2025 | Sell pre-set plan | 572 | $40.14 | $22,960 |
| Berman David M HEAD OF R&D | December 4, 2025 | Sell pre-set plan | 31,341 | $40.26 | $1.3M |
| Berman David M HEAD OF R&D | November 28, 2025 | Sell pre-set plan | 5,521 | $40.09 | $221,337 |
| Berman David M HEAD OF R&D | November 26, 2025 | Sell pre-set plan | 69,404 | $40.12 | $2.8M |
| Berman David M HEAD OF R&D | November 25, 2025 | Sell pre-set plan | 18,020 | $40.03 | $721,341 |
| Berman David M HEAD OF R&D | November 24, 2025 | Sell pre-set plan | 100 | $40.00 | $4,000 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Next expected around October 15, 2026 estimated from the company's past filing pattern, not announced
- August 6, 2026
- May 6, 2026
- February 25, 2026
- January 9, 2026
- November 6, 2025
- August 7, 2025
Recent SEC filings
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- DEF 14A Proxy statement
- 8-K Current report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Immunocore Holdings plc in brief
- What does Immunocore Holdings plc do?
- Immunocore Holdings plc is a US-listed company in the biotechnology industry. Its financial year ends in December.
- What is Immunocore Holdings plc's stock ticker?
- Immunocore Holdings plc trades under the ticker IMCR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Immunocore Holdings plc's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Wellington Management Group LLP, RTW Investments, LP and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Immunocore Holdings plc stock?
- Over the last 12 months, Immunocore Holdings plc's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
- When is Immunocore Holdings plc's next earnings date?
- Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Immunocore Holdings plc announces its own schedule.
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