Immunocore (NASDAQ:IMCR) Sets New 52-Week Low – What’s Next?

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $27.50 and last traded at $28.2440, with a volume of 19,802 shares trading hands. The stock had previously closed at $29.04.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IMCR shares. TD Cowen upgraded shares of Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immunocore in a research note on Monday, July 13th. Mizuho lifted their price objective on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Immunocore in a research note on Friday, August 21st. They set an “overweight” rating and a $50.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Immunocore has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Immunocore Stock Performance

The stock’s 50-day simple moving average is $33.39 and its 200 day simple moving average is $31.65. The company has a market capitalization of $1.46 billion, a PE ratio of -76.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.44 and a current ratio of 4.47.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. As a group, research analysts expect that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new position in shares of Immunocore in the 4th quarter valued at about $47,000. GAMMA Investing LLC lifted its stake in Immunocore by 202.8% during the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $61,000 after purchasing an additional 1,286 shares during the last quarter. Juncture Wealth Strategies LLC purchased a new stake in shares of Immunocore during the 3rd quarter worth approximately $207,000. denkapparat Operations GmbH acquired a new position in shares of Immunocore in the 2nd quarter valued at $209,000. Finally, Headlands Technologies LLC acquired a new position in shares of Immunocore in the 2nd quarter valued at $290,000. 84.50% of the stock is owned by institutional investors and hedge funds.

Immunocore Company Profile

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapies designed to treat cancer and other serious diseases. Its ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and redirect the patient’s T cells to destroy those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is a bispecific TCR therapy approved in the United States and Europe for certain adults with unresectable or metastatic uveal melanoma, a rare form of eye cancer.