Immunocore (NASDAQ:IMCR) Hits New 1-Year Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMCR. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research report on Thursday, October 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price objective (down previously from $74.00) on shares of Immunocore in a report on Friday, December 13th. UBS Group assumed coverage on shares of Immunocore in a research note on Thursday, October 24th. They set a “sell” rating and a $24.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunocore in a report on Monday, September 9th. Finally, Needham & Company LLC reduced their price objective on Immunocore from $78.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.64.

Immunocore Trading Down 3.9 %

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

Immunocore (NASDAQ:IMCR) last announced 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 company had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.59) EPS. On average, equities analysts anticipate that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of hedge funds have recently modified their holdings of IMCR. Envestnet Asset Management Inc. boosted its position in shares of Immunocore by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock valued at $2,392,000 after purchasing an additional 606 shares during the period. Pier Capital LLC boosted its holdings in shares of Immunocore by 1.4% in the third quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock worth $2,568,000 after buying an additional 1,174 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Immunocore by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock worth $767,000 after acquiring an additional 1,390 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company’s stock valued at $158,000 after acquiring an additional 1,461 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Immunocore by 6.5% in the 3rd quarter. Assetmark Inc. now owns 30,555 shares of the company’s stock valued at $951,000 after acquiring an additional 1,878 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.