Immunocore (NASDAQ:IMCR) Stock Price Up 8% - Here's What Happened

Key Points

• Immunocore shares rose 8% to approximately $32.24 in Tuesday’s mid-day trading, though volume was about 35% below the stock’s average session volume.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.38, despite some analysts maintaining neutral or sell ratings.
• The company missed its latest quarterly EPS estimate, reporting a loss of $0.02 per share versus expectations of a $0.01 loss. Institutional investors own approximately 84.5% of Immunocore’s shares.

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report)'s stock price was up 8% during mid-day trading on Tuesday. The stock traded as high as $31.93 and last traded at $32.2390. Approximately 294,413 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 454,604 shares. The stock had previously closed at $29.84.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IMCR shares. Cantor Fitzgerald restated an "overweight" rating on shares of Immunocore in a research note on Monday, July 13th. Morgan Stanley set a $43.00 price objective on shares of Immunocore in a research note on Friday, August 7th. Wall Street Zen cut shares of Immunocore from a "buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Mizuho upped their price objective on Immunocore from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Immunocore in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Immunocore currently has a consensus rating of "Moderate Buy" and an average target price of $56.38.

Immunocore Price Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -86.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.47 and a quick ratio of 4.44. The company's 50-day simple moving average is $33.01 and its 200-day simple moving average is $31.63.

Immunocore (NASDAQ:IMCR - Get Free Report) last released 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 net margin of 4.20% and a negative return on equity of 4.54%. Research analysts forecast that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of large investors have recently bought and sold shares of IMCR. Juncture Wealth Strategies LLC bought a new position in Immunocore in the 3rd quarter valued at approximately $207,000. Engineers Gate Manager LP grew its holdings in shares of Immunocore by 334.3% during the second quarter. Engineers Gate Manager LP now owns 60,327 shares of the company's stock worth $1,915,000 after purchasing an additional 46,435 shares during the last quarter. denkapparat Operations GmbH acquired a new stake in Immunocore during the 2nd quarter worth approximately $209,000. Braidwell LP acquired a new stake in Immunocore during the 2nd quarter worth approximately $16,552,000. Finally, Headlands Technologies LLC bought a new position in shares of Immunocore during the second quarter valued at $290,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Immunocore Company Profile

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.

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