Immunocore (NASDAQ:IMCR) Trading Down 4.4% - Should You Sell?

Key Points

• Immunocore shares fell 4.4% to approximately $32.96 in thin mid-day trading, with volume down 99% from its average session volume.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $56.38, although recent ratings included a downgrade from Strong Buy to Hold.
• The company recently missed quarterly earnings expectations, reporting a loss of $0.02 per share versus the $0.01 expected; Immunocore remains a clinical-stage biotechnology firm whose lead product, tebentafusp, is approved for metastatic uveal melanoma.

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR - Get Free Report) fell 4.4% on Friday . The stock traded as low as $33.10 and last traded at $32.9550. Approximately 6,745 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 454,839 shares. The stock had previously closed at $34.47.

Analyst Ratings Changes

IMCR has been the topic of several analyst reports. Zacks Research lowered Immunocore from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. TD Cowen raised shares of Immunocore to a "strong-buy" rating in a research report on Monday, August 24th. Mizuho raised their target price on shares of Immunocore from $34.00 to $35.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. assumed coverage on shares of Immunocore in a research report on Friday, August 21st. They issued an "overweight" rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.38.

Immunocore Price Performance

The business's fifty day moving average price is $34.76 and its 200 day moving average price is $31.81. 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 stock has a market cap of $1.70 billion, a P/E ratio of -89.24 and a beta of 0.74.

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

Hedge Funds Weigh In On Immunocore

A number of institutional investors and hedge funds have recently bought and sold shares of IMCR. Leonteq Securities AG bought a new stake in shares of Immunocore during the fourth quarter worth about $30,000. Harbour Investments Inc. increased its position in Immunocore by 60.2% in the 4th quarter. Harbour Investments Inc. now owns 1,033 shares of the company's stock valued at $36,000 after acquiring an additional 388 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Immunocore during the fourth quarter valued at $47,000. Arax Advisory Partners lifted its holdings in shares of Immunocore by 302.9% during the fourth quarter. Arax Advisory Partners now owns 1,386 shares of the company's stock worth $48,000 after purchasing an additional 1,042 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Immunocore by 202.8% in the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $61,000 after purchasing an additional 1,286 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company's stock.

Immunocore Company Profile

Immunocore plc is a clinical‐stage biotechnology company focused on the development of novel immunotherapies that harness the body's own T‐cell response to treat cancer and infectious diseases. The company's proprietary ImmTAC (immune mobilising monoclonal T‐cell receptors against cancer) platform utilizes engineered, soluble T‐cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease‐associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company's most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma‐associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.

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