Immunocore (NASDAQ:IMCR) Hits New 52-Week Low – Here’s Why

Immunocore Holdings plc (NASDAQ:IMCR) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $27.19 and last traded at $27.54, with a volume of 127269 shares trading hands. The stock had previously closed at $29.04.

Analyst Upgrades and Downgrades

Several research firms have commented on IMCR. Morgan Stanley restated an “equal weight” rating and set a $35.00 price objective on shares of Immunocore in a report on Friday, March 7th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research note on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Immunocore in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Immunocore Stock Performance

The firm’s 50 day moving average is $29.80 and its 200 day moving average is $30.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The stock has a market cap of $1.36 billion, a P/E ratio of -28.69 and a beta of 0.75.

Insider Transactions at Immunocore

In related news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $29.72 per share, with a total value of $23,994,085.36. Following the transaction, the director now directly owns 2,144,060 shares of the company’s stock, valued at $63,721,463.20. This trade represents a 60.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Immunocore during the fourth quarter valued at $25,000. China Universal Asset Management Co. Ltd. lifted its position in Immunocore by 12.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock worth $248,000 after acquiring an additional 960 shares during the period. NEOS Investment Management LLC increased its holdings in shares of Immunocore by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock valued at $330,000 after purchasing an additional 1,102 shares during the period. Tema Etfs LLC purchased a new position in shares of Immunocore in the fourth quarter worth about $330,000. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Immunocore by 39.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,536 shares of the company’s stock worth $340,000 after purchasing an additional 3,238 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

Immunocore Company Profile

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.