Immunocore (NASDAQ:IMCR) Shares Down 3.9%

Immunocore Holdings plc (NASDAQ:IMCR) traded down 3.9% during mid-day trading on Wednesday . The company traded as low as $34.02 and last traded at $34.05. 124,714 shares changed hands during trading, a decline of 80% from the average session volume of 637,524 shares. The stock had previously closed at $35.44.

Wall Street Analysts Forecast Growth

IMCR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of Immunocore in a research note on Wednesday, June 5th. SVB Leerink initiated coverage on shares of Immunocore in a report on Monday, April 29th. They set an “outperform” rating and a $74.00 price objective on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Immunocore in a research note on Monday, April 29th. Oppenheimer restated an “outperform” rating and set a $87.00 price target (up previously from $85.00) on shares of Immunocore in a research report on Thursday, February 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of Immunocore in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.85.

Immunocore Price Performance

The company has a fifty day simple moving average of $49.51 and a 200-day simple moving average of $60.68. The company has a quick ratio of 5.94, a current ratio of 5.96 and a debt-to-equity ratio of 1.22.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The firm had revenue of $70.30 million during the quarter, compared to analysts’ expectations of $70.72 million. Immunocore had a negative net margin of 22.60% and a negative return on equity of 16.54%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. As a group, equities analysts expect that Immunocore Holdings plc will post -1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in Immunocore by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,656 shares of the company’s stock valued at $181,000 after purchasing an additional 674 shares during the period. JGP Global Gestao de Recursos Ltda. purchased a new position in Immunocore during the fourth quarter worth about $230,000. NEOS Investment Management LLC acquired a new stake in shares of Immunocore during the fourth quarter valued at about $262,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Immunocore by 366.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,900 shares of the company’s stock valued at $266,000 after acquiring an additional 3,064 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Immunocore in the 1st quarter worth approximately $423,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

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.