Immunocore (NASDAQ:IMCR) Stock Price Down 4.5% - Here's What Happened

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s share price fell 4.5% 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IMCR shares. Morgan Stanley reissued an "equal weight" rating and issued a $35.00 target price on shares of Immunocore in a research note on Friday, March 7th. Mizuho decreased their target price on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wall Street Zen lowered shares of Immunocore from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Oppenheimer raised their target price on shares of Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of Immunocore in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.89.

Immunocore Price Performance

The stock's fifty day moving average price is $30.67 and its 200-day moving average price is $30.27. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -37.50 and a beta of 0.83. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03.

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

Insider Activity at Immunocore

In related news, Director Bros. Advisors Lp Baker bought 807,338 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the acquisition, the director now owns 2,144,060 shares of the company's stock, valued at approximately $63,721,463.20. This trade represents a 60.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 10.40% of the stock is owned by insiders.

Institutional Trading of Immunocore

Several institutional investors have recently added to or reduced their stakes in the stock. Checkpoint Capital L.P. acquired a new position in shares of Immunocore in the first quarter worth $267,000. Banque Transatlantique SA acquired a new position in shares of Immunocore in the first quarter worth $278,000. Frazier Life Sciences Management L.P. grew its stake in shares of Immunocore by 176.9% in the first quarter. Frazier Life Sciences Management L.P. now owns 301,170 shares of the company's stock worth $8,936,000 after acquiring an additional 192,408 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Immunocore by 53.3% in the first quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company's stock worth $68,913,000 after acquiring an additional 807,338 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock worth $1,306,000 after acquiring an additional 13,689 shares in the last quarter. 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.