Immunocore (NASDAQ:IMCR) Reaches New 12-Month Low - Here's What Happened

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $28.84 and last traded at $29.03, with a volume of 34148 shares. The stock had previously closed at $30.31.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IMCR. Guggenheim lowered shares of Immunocore from a "buy" rating to a "neutral" rating in a research report on Monday, October 7th. UBS Group started coverage on Immunocore in a research note on Thursday, October 24th. They set a "sell" rating and a $24.00 price objective on the stock. Mizuho downgraded Immunocore from an "outperform" rating to a "neutral" rating and cut their target price for the company from $72.00 to $38.00 in a research report on Monday, November 11th. Needham & Company LLC decreased their price target on Immunocore from $78.00 to $71.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immunocore in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.64.

Immunocore Trading Down 4.6 %

The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -30.43 and a beta of 0.73. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 1.03. The business's 50 day moving average price is $32.28 and its two-hundred day moving average price is $35.36.

Immunocore (NASDAQ:IMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.50. The business had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.94 million. Immunocore had a negative net margin of 15.87% and a negative return on equity of 12.84%. The firm's revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.59) EPS. On average, equities analysts predict that Immunocore Holdings plc will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunocore

A number of hedge funds and other institutional investors have recently bought and sold shares of IMCR. Exchange Traded Concepts LLC boosted its stake in shares of Immunocore by 40.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,075 shares of the company's stock valued at $158,000 after purchasing an additional 1,461 shares in the last quarter. Connective Portfolio Management LLC bought a new position in Immunocore in the 3rd quarter valued at approximately $218,000. China Universal Asset Management Co. Ltd. boosted its position in Immunocore by 69.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,433 shares of the company's stock worth $231,000 after buying an additional 3,053 shares during the period. XTX Topco Ltd bought a new stake in Immunocore during the 2nd quarter worth approximately $303,000. Finally, Seven Eight Capital LP acquired a new position in Immunocore in the 2nd quarter valued at approximately $434,000. Institutional investors own 84.50% of the company's stock.

Immunocore Company Profile

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.