Immunocore (NASDAQ:IMCR) Trading Down 4.6%

Immunocore Holdings plc (NASDAQ:IMCR)’s share price dropped 4.6% during mid-day trading on Tuesday . The company traded as low as $34.58 and last traded at $34.77. Approximately 149,520 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 640,636 shares. The stock had previously closed at $36.43.

Wall Street Analyst Weigh In

Several research firms have weighed in on IMCR. Needham & Company LLC reissued a “buy” rating and set a $81.00 target price on shares of Immunocore in a research report on Monday, June 3rd. Guggenheim reissued a “buy” rating and set a $92.00 target price on shares of Immunocore in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Immunocore from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Mizuho dropped their target price on shares of Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Finally, SVB Leerink initiated coverage on shares of Immunocore in a research note on Monday, April 29th. They set an “outperform” rating and a $74.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and an average price target of $81.85.

Immunocore Stock Up 3.5 %

The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $46.96 and its 200-day moving average is $59.53.

Immunocore (NASDAQ:IMCR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The company had revenue of $70.30 million for the quarter, compared to analyst estimates of $70.72 million. Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. As a group, equities research analysts forecast that Immunocore Holdings plc will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in Immunocore during the first quarter worth $423,000. Janus Henderson Group PLC grew its holdings in shares of Immunocore by 45.8% during the first quarter. Janus Henderson Group PLC now owns 257,080 shares of the company’s stock worth $16,711,000 after buying an additional 80,748 shares in the last quarter. Nan Fung Group Holdings Ltd purchased a new stake in shares of Immunocore during the first quarter worth $439,000. Orion Portfolio Solutions LLC grew its holdings in shares of Immunocore by 33.7% during the first quarter. Orion Portfolio Solutions LLC now owns 23,127 shares of the company’s stock worth $1,503,000 after buying an additional 5,826 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Immunocore by 86.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,000 shares of the company’s stock worth $22,230,000 after buying an additional 158,455 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.