Immunocore (NASDAQ:IMCR) Stock Price Down 3.4% - Time to Sell?

Shares of Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report) dropped 3.4% on Monday . The stock traded as low as $34.03 and last traded at $33.51. Approximately 30,767 shares changed hands during trading, a decline of 91% from the average daily volume of 360,779 shares. The stock had previously closed at $34.68.

Wall Street Analyst Weigh In

IMCR has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Immunocore from $38.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Needham & Company LLC reiterated a "buy" rating and set a $71.00 price objective on shares of Immunocore in a report on Thursday, April 10th. Oppenheimer increased their price objective on shares of Immunocore from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of Immunocore from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Immunocore from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.89.

Immunocore Price Performance

The company's fifty day moving average is $31.58 and its 200 day moving average is $30.29. The company has a quick ratio of 6.31, a current ratio of 6.36 and a debt-to-equity ratio of 1.03. The stock has a market cap of $1.59 billion, a PE ratio of -73.72 and a beta of 0.83.

Immunocore (NASDAQ:IMCR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.45. Immunocore had a negative net margin of 6.48% and a negative return on equity of 5.86%. The firm had revenue of $125.13 million for the quarter, compared to analyst estimates of $108.82 million. During the same quarter last year, the firm posted ($0.49) earnings per share. Immunocore's revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Immunocore Holdings PLC Sponsored ADR will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Checkpoint Capital L.P. acquired a new stake in Immunocore in the first quarter valued at approximately $267,000. Banque Transatlantique SA acquired a new stake in Immunocore in the first quarter valued at approximately $278,000. Frazier Life Sciences Management L.P. grew its position in Immunocore by 176.9% in the first quarter. Frazier Life Sciences Management L.P. now owns 301,170 shares of the company's stock valued at $8,936,000 after acquiring an additional 192,408 shares in the last quarter. Baker BROS. Advisors LP grew its position in Immunocore by 53.3% in the first 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 in the last quarter. Finally, Royal Bank of Canada grew its position in Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company's stock valued at $1,306,000 after acquiring an additional 13,689 shares in the last quarter. Hedge funds and other institutional investors 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.