Immunocore (NASDAQ:IMCR) Reaches New 1-Year Low - Here's Why

Immunocore Holdings plc (NASDAQ:IMCR - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $29.72 and last traded at $30.34, with a volume of 125973 shares changing hands. The stock had previously closed at $31.09.

Analyst Upgrades and Downgrades

Several brokerages have commented on IMCR. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Immunocore in a report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price objective on shares of Immunocore from $70.00 to $66.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. Oppenheimer reiterated an "outperform" rating and set a $89.00 target price (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Barclays lowered their target price on Immunocore from $92.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. 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 hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Immunocore presently has an average rating of "Moderate Buy" and an average target price of $80.40.

Immunocore Stock Performance

The company has a debt-to-equity ratio of 1.31, a current ratio of 5.17 and a quick ratio of 5.15. The business has a 50 day moving average price of $35.25 and a 200 day moving average price of $44.55. The stock has a market capitalization of $1.53 billion, a PE ratio of -25.00 and a beta of 0.72.

Immunocore (NASDAQ:IMCR - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.48) by $0.25. Immunocore had a negative net margin of 19.16% and a negative return on equity of 14.68%. The business had revenue of $75.40 million during the quarter, compared to analyst estimates of $74.58 million. During the same period last year, the business earned ($0.37) EPS. Immunocore's revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts expect that Immunocore Holdings plc will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On Immunocore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA raised its holdings in shares of Immunocore by 3,841.6% during the second quarter. Primecap Management Co. CA now owns 1,951,070 shares of the company's stock valued at $66,122,000 after purchasing an additional 1,901,570 shares during the last quarter. Bellevue Group AG grew its position in shares of Immunocore by 4,817.1% during the 4th quarter. Bellevue Group AG now owns 976,054 shares of the company's stock valued at $66,684,000 after acquiring an additional 956,204 shares during the period. Armistice Capital LLC lifted its position in Immunocore by 495.1% during the second quarter. Armistice Capital LLC now owns 976,000 shares of the company's stock valued at $33,077,000 after purchasing an additional 812,000 shares in the last quarter. Wellington Management Group LLP grew its holdings in Immunocore by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 4,312,611 shares of the company's stock valued at $294,638,000 after purchasing an additional 399,201 shares during the period. Finally, Millennium Management LLC grew its holdings in Immunocore by 124.4% during the second quarter. Millennium Management LLC now owns 600,954 shares of the company's stock valued at $20,366,000 after purchasing an additional 333,167 shares during the period. Institutional investors own 84.50% of the company's stock.

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.