Baker Bros. Advisors 13F: Cuts Immunocore (IMCR) Stake by $50M

Baker Bros. Advisors scaled back its investment in Immunocore Holdings plc (NASDAQ: IMCR) during the first quarter. According to its latest Form 13F filing with the Securities and Exchange Commission for the period ending May 15, 2026, the fund cut its position in the biotechnology firm by 68.38%.

Baker Bros. Slashes Immunocore Position

The fund sold 1,588,259 shares of the company during the quarter. This transaction left the firm with 734,397 shares, down from its previous holding of 2,322,656 shares. The remaining stake was valued at approximately $23.32 million at the end of the reporting period. Because 13F filings are backward-looking documents, they show holdings as of the reporting date and might not represent the fund's current, active portfolio.

Immunocore Stock Trades Near Key Averages

On Sunday, shares of Immunocore traded at $31.75. The stock has been trading within a 52-week range of $27.55 to $40.72. Investors are keeping a close eye on the stock's moving averages, which help show mid-term trends. Immunocore is currently trading slightly below its 50-day moving average of $34.60, but remains close to its 200-day moving average of $32.48.

Revenue Growth Despite Net Losses

Immunocore reported total revenue of $430.78 million, which represents an 18.3% increase in revenue growth. However, the company is not currently profitable, posting an earnings per share of -$0.36. This means the stock does not have a meaningful price-to-earnings ratio. Immunocore is scheduled to report its next quarterly financial results on November 5, 2026.

Wall Street Analysts Eye Higher Targets

Several research firms have recently weighed in on the stock. On August 3, 2026, Mizuho maintained its Neutral rating on Immunocore and adjusted its price target to $35.00, up from a previous target of $34.00. Looking at the broader picture, 12 analysts have provided ratings on the stock, resulting in a consensus target price of $62.50. This consensus suggests that analysts expect substantial room for growth compared to the current trading price.

About Immunocore Holdings

Immunocore Holdings plc is a biotechnology developer based in Abingdon, the United Kingdom. The company focuses on creating immunomodulating medicines to treat cancer, infectious diseases, and autoimmune conditions. Its primary commercial product is KIMMTRAK, which is used to treat a rare type of eye cancer called metastatic uveal melanoma.

What's Ahead for Immunocore Holdings plc

Investors will want to watch how the company's clinical pipeline develops, particularly its ongoing trials for cutaneous melanoma and other solid tumors. The upcoming earnings report in November will provide the next major operational update. Future SEC filings will reveal whether Baker Bros. Advisors has continued to scale back its position or held steady with its remaining shares.