Immunocore (NASDAQ:IMCR) Shares Down 4.5% - What's Next?

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report) fell 4.5% during mid-day trading on Monday . The company traded as low as $35.38 and last traded at $35.56. 63,621 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 369,497 shares. The stock had previously closed at $37.25.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IMCR shares. Wall Street Zen downgraded shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Friday. Oppenheimer boosted their price target on Immunocore from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on Immunocore from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Morgan Stanley reaffirmed an "equal weight" rating and set a $35.00 target price on shares of Immunocore in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Immunocore in a report on Tuesday, May 27th. They issued a "buy" rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.89.

Immunocore Stock Performance

The firm has a market capitalization of $1.83 billion, a PE ratio of -38.28 and a beta of 0.83. 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 firm's 50 day moving average price is $30.23 and its 200-day moving average price is $30.17.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.45. The business had revenue of $125.13 million for the quarter, compared to analysts' expectations of $108.82 million. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The business's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.49) EPS. On average, research analysts expect that Immunocore Holdings plc will post -0.94 EPS for the current year.

Insider Activity

In other Immunocore news, Director Bros. Advisors Lp Baker purchased 807,338 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $29.72 per share, with a total value of $23,994,085.36. Following the purchase, the director now directly owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. This trade represents a 60.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IMCR. Baker BROS. Advisors LP boosted its holdings in Immunocore by 53.3% during the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock valued at $68,913,000 after acquiring an additional 807,338 shares during the period. Groupama Asset Managment acquired a new stake in Immunocore during the fourth quarter worth approximately $17,700,000. Deep Track Capital LP purchased a new stake in Immunocore in the fourth quarter valued at $15,322,000. Tang Capital Management LLC lifted its stake in Immunocore by 40.7% in the fourth quarter. Tang Capital Management LLC now owns 1,555,600 shares of the company's stock valued at $45,890,000 after buying an additional 450,000 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Immunocore during the fourth quarter worth approximately $11,897,000. Institutional investors and hedge funds 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.

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