Immunocore (NASDAQ:IMCR) Shares Gap Down to $36.14

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $36.14, but opened at $33.45. Immunocore shares last traded at $34.68, with a volume of 651,916 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IMCR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 target price on shares of Immunocore in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Barclays reduced their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $89.00 target price (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Finally, Mizuho reduced their target price on Immunocore from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Immunocore has a consensus rating of “Moderate Buy” and a consensus target price of $80.70.

Immunocore Stock Performance

The company has a debt-to-equity ratio of 1.22, a quick ratio of 5.94 and a current ratio of 5.96. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -29.41 and a beta of 0.75. The company has a fifty day moving average of $37.50 and a two-hundred day moving average of $50.19.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.25. The company had revenue of $75.40 million for the quarter, compared to the consensus estimate of $74.58 million. Immunocore had a negative return on equity of 16.54% and a negative net margin of 22.60%. Immunocore’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.37) EPS. Equities research analysts anticipate that Immunocore Holdings plc will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in Immunocore by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,571 shares of the company’s stock worth $2,392,000 after purchasing an additional 606 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Immunocore by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,622 shares of the company’s stock worth $767,000 after purchasing an additional 1,390 shares during the last quarter. Trexquant Investment LP raised its position in Immunocore by 6.5% during the 4th quarter. Trexquant Investment LP now owns 28,545 shares of the company’s stock worth $1,950,000 after purchasing an additional 1,746 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Immunocore by 2.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 87,614 shares of the company’s stock worth $5,695,000 after purchasing an additional 1,830 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of Immunocore by 35.0% in the 2nd quarter. DNB Asset Management AS now owns 7,211 shares of the company’s stock worth $244,000 after acquiring an additional 1,868 shares in the last quarter. 84.50% of the stock is owned by institutional investors.

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.