Immunocore (NASDAQ:IMCR) Reaches New 1-Year Low – What’s Next?

Immunocore Holdings plc (NASDAQ:IMCR) reached a new 52-week low during trading on Friday . The stock traded as low as $27.19 and last traded at $27.54, with a volume of 127269 shares trading hands. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

IMCR has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price target on shares of Immunocore in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Trading Down 6.1 %

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -28.69 and a beta of 0.79. The business has a 50-day simple moving average of $29.91 and a two-hundred day simple moving average of $30.86. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Insider Activity at Immunocore

In related news, Director Bros. Advisors Lp Baker purchased 807,338 shares of Immunocore stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the completion of the transaction, the director now owns 2,144,060 shares of the company’s stock, valued at approximately $63,721,463.20. This trade represents a 60.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunocore

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Immunocore by 10.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after purchasing an additional 668,382 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Immunocore by 3.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,208 shares of the company’s stock worth $197,657,000 after purchasing an additional 200,373 shares during the period. Primecap Management Co. CA increased its position in Immunocore by 8.0% during the fourth quarter. Primecap Management Co. CA now owns 2,668,550 shares of the company’s stock worth $78,722,000 after buying an additional 196,530 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Immunocore by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,187,530 shares of the company’s stock worth $64,533,000 after buying an additional 29,832 shares during the last quarter. Finally, Tang Capital Management LLC raised its stake in Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company’s stock valued at $45,890,000 after buying an additional 450,000 shares during the period. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.