Immunocore (NASDAQ:IMCR) Shares Down 5.4%

Immunocore Holdings plc (NASDAQ:IMCR)’s share price was down 5.4% during trading on Friday . The company traded as low as $43.37 and last traded at $43.41. Approximately 58,579 shares traded hands during trading, a decline of 76% from the average daily volume of 243,117 shares. The stock had previously closed at $45.91.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IMCR shares. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Immunocore in a research report on Monday, July 31st. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Immunocore in a research report on Wednesday, August 23rd. Capital One Financial began coverage on Immunocore in a report on Wednesday, August 16th. They issued an “overweight” rating and a $84.00 price target for the company. Needham & Company LLC began coverage on Immunocore in a report on Wednesday, September 13th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Canaccord Genuity Group began coverage on Immunocore in a report on Monday, July 17th. They issued a “hold” rating and a $67.00 price target for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Immunocore currently has an average rating of “Moderate Buy” and an average target price of $71.38.

Immunocore Stock Down 6.7 %

The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -33.22 and a beta of 0.71. The company has a current ratio of 4.28, a quick ratio of 4.26 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $51.90 and a two-hundred day moving average price of $56.98.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.03. The business had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.39 million. Immunocore had a negative return on equity of 17.97% and a negative net margin of 27.72%. On average, equities analysts expect that Immunocore Holdings plc will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently modified their holdings of IMCR. RTW Investments LP lifted its position in Immunocore by 1.6% during the 1st quarter. RTW Investments LP now owns 5,649,943 shares of the company’s stock worth $279,333,000 after acquiring an additional 90,621 shares in the last quarter. Wellington Management Group LLP lifted its position in Immunocore by 56.8% during the 1st quarter. Wellington Management Group LLP now owns 3,375,309 shares of the company’s stock worth $166,875,000 after acquiring an additional 1,222,343 shares in the last quarter. Rock Springs Capital Management LP lifted its position in Immunocore by 0.9% during the 2nd quarter. Rock Springs Capital Management LP now owns 3,028,410 shares of the company’s stock worth $181,583,000 after acquiring an additional 26,748 shares in the last quarter. FMR LLC lifted its position in Immunocore by 4.3% during the 1st quarter. FMR LLC now owns 2,089,551 shares of the company’s stock worth $103,307,000 after acquiring an additional 85,638 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Immunocore by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,383,440 shares of the company’s stock worth $68,398,000 after acquiring an additional 49,524 shares in the last quarter. 73.45% of the stock is owned by institutional investors and hedge funds.

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 developing other programs for oncology comprise tebentafusp that is in Phase 2/3 clinical trial in patients with advanced melanoma; IMC-F106C, which is in a Phase I/II dose escalation trial in patients with multiple solid tumor cancers comprising cutaneous melanoma, ovarian, non-small cell lung cancer, and endometrial; IMC-T119C for multiple solid tumor cancers; IMC-P115C for multiple solid tumor cancers; and IMC-R117C, which is for a range of tumors, including colorectal, gastro-esophageal, and pancreatic cancers.