Immunocore (NASDAQ:IMCR) Stock Price Down 3.8%

Shares of Immunocore Holdings plc (NASDAQ:IMCR) traded down 3.8% during trading on Monday . The company traded as low as $38.27 and last traded at $38.27. 59,680 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 619,829 shares. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IMCR shares. JPMorgan Chase & Co. decreased their price target on shares of Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Canaccord Genuity Group upped their price target on shares of Immunocore from $63.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $81.00 price objective on shares of Immunocore in a report on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Wednesday, June 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $92.00 target price on shares of Immunocore in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.75.

Immunocore Price Performance

The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -32.61 and a beta of 0.74. The company has a current ratio of 5.96, a quick ratio of 5.94 and a debt-to-equity ratio of 1.22. The business’s 50-day simple moving average is $41.94 and its two-hundred day simple moving average is $57.16.

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 the consensus estimate of ($0.37) by ($0.12). The firm 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 company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) earnings per share. As a group, research analysts expect that Immunocore Holdings plc will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in Immunocore by 14.9% in the fourth quarter. TD Asset Management Inc now owns 346,930 shares of the company’s stock valued at $23,702,000 after purchasing an additional 45,010 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Immunocore in the 4th quarter valued at about $1,314,000. Hsbc Holdings PLC bought a new stake in Immunocore in the 4th quarter valued at about $4,450,000. Bellevue Group AG raised its stake in Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company’s stock worth $66,684,000 after buying an additional 956,204 shares during the period. Finally, Legato Capital Management LLC boosted its holdings in Immunocore by 61.7% in the fourth quarter. Legato Capital Management LLC now owns 7,235 shares of the company’s stock worth $494,000 after acquiring an additional 2,762 shares in the last quarter. 84.50% of the stock is 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.