Immunocore (NASDAQ:IMCR) Stock Price Down 4.6%

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

Analyst Ratings Changes

IMCR has been the subject of several research reports. SVB Leerink initiated coverage on Immunocore in a report on Monday, April 29th. They set an “outperform” rating and a $74.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price objective on shares of Immunocore in a report on Monday, June 3rd. Canaccord Genuity Group boosted their price target on Immunocore from $63.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Wednesday, June 5th. Finally, Guggenheim reissued a “buy” rating and issued a $92.00 price target on shares of Immunocore in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.85.

Immunocore Stock Performance

The stock has a 50-day simple moving average of $47.86 and a 200-day simple moving average of $59.90. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.96 and a quick ratio of 5.94. The stock has a market cap of $1.74 billion, a PE ratio of -28.24 and a beta of 0.75.

Immunocore (NASDAQ:IMCR) last issued its earnings results 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). Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. The company had revenue of $70.30 million during the quarter, compared to analysts’ expectations of $70.72 million. During the same period in the previous year, the company earned ($0.35) EPS. Immunocore’s quarterly revenue was up 27.6% on a year-over-year basis. Equities analysts predict that Immunocore Holdings plc will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

Institutional investors and hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position in shares of Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock worth $181,000 after buying an additional 674 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Immunocore in the fourth quarter worth about $230,000. NEOS Investment Management LLC acquired a new position in shares of Immunocore in the fourth quarter worth about $262,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Immunocore by 366.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock worth $266,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Immunocore in the third quarter worth about $411,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.

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.