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

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $28.84 and last traded at $29.03, with a volume of 34148 shares trading hands. The stock had previously closed at $30.31.

Wall Street Analysts Forecast Growth

IMCR has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Thursday, October 24th. Guggenheim downgraded shares of Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. UBS Group initiated coverage on shares of Immunocore in a report on Thursday, October 24th. They set a “sell” rating and a $24.00 price target for the company. Finally, Morgan Stanley restated an “equal weight” rating and issued a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

The stock’s 50-day moving average price is $32.28 and its 200-day moving average price is $35.28. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -30.43 and a beta of 0.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.50. The firm had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. Immunocore’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.59) earnings per share. As a group, equities research analysts expect that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Institutional investors and hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA raised its position in Immunocore by 26.7% during the third quarter. Primecap Management Co. CA now owns 2,472,020 shares of the company’s stock worth $76,954,000 after acquiring an additional 520,950 shares during the last quarter. Candriam S.C.A. raised its position in shares of Immunocore by 65.8% during the 2nd quarter. Candriam S.C.A. now owns 313,423 shares of the company’s stock worth $10,621,000 after purchasing an additional 124,417 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Immunocore in the 2nd quarter valued at approximately $3,686,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Immunocore by 16.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,463 shares of the company’s stock worth $13,470,000 after buying an additional 55,463 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Immunocore by 14.5% in the second quarter. Renaissance Technologies LLC now owns 646,920 shares of the company’s stock worth $21,924,000 after acquiring an additional 82,120 shares during the last quarter. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

About Immunocore

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.