Immunocore (NASDAQ:IMCR) Hits New 12-Month Low – Time to Sell?

Immunocore Holdings plc (NASDAQ:IMCR) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $27.19 and last traded at $27.74, with a volume of 124643 shares changing hands. The stock had previously closed at $29.00.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IMCR. Needham & Company LLC reiterated a “buy” rating and set a $71.00 price objective on shares of Immunocore in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Immunocore in a research report on Friday, February 28th. Mizuho lowered shares of Immunocore from an “outperform” rating to a “neutral” rating and cut their target price for the company from $72.00 to $38.00 in a report on Monday, November 11th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $35.00 price target on shares of Immunocore in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

The company has a market cap of $1.44 billion, a price-to-earnings ratio of -30.35 and a beta of 0.79. The stock’s fifty day simple moving average is $30.16 and its 200 day simple moving average is $31.52. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

Hedge Funds Weigh In On Immunocore

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Immunocore by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 35,492 shares of the company’s stock worth $1,047,000 after acquiring an additional 420 shares during the period. GF Fund Management CO. LTD. purchased a new position in Immunocore during the fourth quarter worth about $25,000. China Universal Asset Management Co. Ltd. boosted its holdings in Immunocore by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,393 shares of the company’s stock valued at $248,000 after purchasing an additional 960 shares during the last quarter. NEOS Investment Management LLC increased its holdings in shares of Immunocore by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 11,194 shares of the company’s stock worth $330,000 after buying an additional 1,102 shares during the last quarter. Finally, Pier Capital LLC raised its position in shares of Immunocore by 1.4% during the 3rd quarter. Pier Capital LLC now owns 82,480 shares of the company’s stock valued at $2,568,000 after buying an additional 1,174 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.