Immunocore (NASDAQ:IMCR) Sets New 52-Week Low – Here’s Why

Immunocore Holdings plc (NASDAQ:IMCR)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $29.72 and last traded at $30.34, with a volume of 125973 shares traded. The stock had previously closed at $31.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IMCR shares. Barclays reduced their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC reduced their target price on Immunocore from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Immunocore in a research report on Monday, September 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $89.00 target price (up previously from $87.00) on shares of Immunocore in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Immunocore Price Performance

The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. The stock has a 50 day moving average price of $35.25 and a two-hundred day moving average price of $44.55. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -25.50 and a beta of 0.72.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Immunocore had a negative return on equity of 14.68% and a negative net margin of 19.16%. The business had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $74.58 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. As a group, analysts expect that Immunocore Holdings plc will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IMCR. DNB Asset Management AS grew its stake in Immunocore by 35.0% during the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after purchasing an additional 1,868 shares in the last quarter. NEOS Investment Management LLC acquired a new position in Immunocore during the 4th quarter worth $262,000. XTX Topco Ltd acquired a new position in Immunocore during the 2nd quarter worth $303,000. Tidal Investments LLC acquired a new position in Immunocore during the 1st quarter worth $423,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Immunocore by 69.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,621 shares of the company’s stock worth $430,000 after purchasing an additional 2,721 shares in the last quarter. 84.50% of the stock is 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.