Immunocore (NASDAQ:IMCR) Sets New 52-Week Low - What's Next?

Key Points

• Immunocore shares fell to a new 52-week low of $27.50 and last traded around $28.24, below the prior close of $29.04.
• Analyst sentiment remains mixed: the stock has a consensus “Moderate Buy” rating and a $56.38 price target, but recent reports included a downgrade to “Hold” and a reaffirmed “Sell” rating.
• The company recently missed quarterly EPS expectations, reporting a loss of $0.02 per share versus the $0.01 expected, while institutional investors and hedge funds collectively own 84.5% of the stock.

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $27.50 and last traded at $28.2440, with a volume of 19,802 shares trading hands. The stock had previously closed at $29.04.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen cut Immunocore from a "buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Immunocore in a research report on Friday, July 17th. Morgan Stanley set a $43.00 target price on shares of Immunocore in a report on Friday, August 7th. Mizuho raised their price objective on shares of Immunocore from $34.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, TD Cowen raised shares of Immunocore to a "strong-buy" rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Immunocore presently has an average rating of "Moderate Buy" and a consensus price target of $56.38.

Immunocore Price Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of -76.45 and a beta of 0.81. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. The business's fifty day moving average price is $33.39 and its 200-day moving average price is $31.65.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. As a group, sell-side analysts predict that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Immunocore during the 4th quarter worth approximately $47,000. GAMMA Investing LLC boosted its position in shares of Immunocore by 202.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $61,000 after acquiring an additional 1,286 shares during the last quarter. denkapparat Operations GmbH acquired a new stake in Immunocore during the second quarter worth about $209,000. Juncture Wealth Strategies LLC acquired a new stake in Immunocore during the third quarter worth about $207,000. Finally, Headlands Technologies LLC purchased a new position in Immunocore during the second quarter worth about $290,000. Institutional investors and hedge funds own 84.50% of the company's stock.

About Immunocore

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapies designed to treat cancer and other serious diseases. Its ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and redirect the patient's T cells to destroy those cells.

The company's lead product, KIMMTRAK (tebentafusp-tebn), is a bispecific TCR therapy approved in the United States and Europe for certain adults with unresectable or metastatic uveal melanoma, a rare form of eye cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.