Immunocore (NASDAQ:IMCR) Stock Price Down 3.4% – Here’s Why

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) traded down 3.4% on Monday . The company traded as low as $34.03 and last traded at $33.51. 30,767 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 360,779 shares. The stock had previously closed at $34.68.

Analysts Set New Price Targets

IMCR has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Immunocore in a research report on Friday, March 7th. Wall Street Zen upgraded shares of Immunocore from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC reiterated a “buy” rating and issued a $71.00 price target on shares of Immunocore in a research note on Thursday, April 10th. Mizuho lowered their price objective on shares of Immunocore from $38.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Immunocore from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Immunocore currently has a consensus rating of “Moderate Buy” and an average target price of $58.89.

Immunocore Trading Down 1.7%

The company has a market cap of $1.63 billion, a price-to-earnings ratio of -75.25 and a beta of 0.83. The business’s 50 day moving average price is $31.35 and its 200-day moving average price is $30.29. The company has a current ratio of 6.36, a quick ratio of 6.31 and a debt-to-equity ratio of 1.03.

Immunocore (NASDAQ:IMCR) last posted its earnings results on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.45. The company had revenue of $125.13 million for the quarter, compared to the consensus estimate of $108.82 million. Immunocore had a negative return on equity of 5.86% and a negative net margin of 6.48%. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, equities analysts anticipate that Immunocore Holdings PLC Sponsored ADR will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP grew its position in Immunocore by 53.3% during the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company’s stock worth $68,913,000 after buying an additional 807,338 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Immunocore during the 4th quarter valued at $17,700,000. Deep Track Capital LP acquired a new stake in shares of Immunocore during the 4th quarter worth $15,322,000. Tang Capital Management LLC grew its holdings in shares of Immunocore by 40.7% during the 4th quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock worth $45,890,000 after purchasing an additional 450,000 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Immunocore in the fourth quarter worth $11,897,000. 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.