Immunocore (NASDAQ:IMCR) Reaches New 12-Month Low – What’s Next?

Immunocore Holdings plc (NASDAQ:IMCR)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.86 and last traded at $28.26, with a volume of 519809 shares. The stock had previously closed at $29.40.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunocore in a research note on Monday, September 9th. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $38.00 in a research report on Monday, November 11th. Needham & Company LLC lowered their price target on shares of Immunocore from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Guggenheim cut Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Stock Performance

The stock has a fifty day moving average price of $32.19 and a 200 day moving average price of $34.90. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -29.75 and a beta of 0.73.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.50. The company had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.59) earnings per share. As a group, analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Immunocore

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its position in shares of Immunocore by 40.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock worth $158,000 after purchasing an additional 1,461 shares during the last quarter. Connective Portfolio Management LLC acquired a new position in shares of Immunocore during the third quarter worth approximately $218,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Immunocore by 69.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company’s stock valued at $231,000 after acquiring an additional 3,053 shares during the period. XTX Topco Ltd bought a new stake in shares of Immunocore in the second quarter valued at approximately $303,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Immunocore in the third quarter worth $406,000. 84.50% of the stock is currently owned by 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.