Immunocore (NASDAQ:IMCR) Shares Gap Down to $31.21

Immunocore Holdings plc (NASDAQ:IMCR)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $31.21, but opened at $30.40. Immunocore shares last traded at $31.28, with a volume of 1,360 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently commented on IMCR shares. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research report on Tuesday, September 17th. Oppenheimer restated an “outperform” rating and issued a $89.00 price target (up previously from $87.00) on shares of Immunocore in a report on Friday, August 9th. Needham & Company LLC lowered their price target on Immunocore from $81.00 to $78.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their target price on Immunocore from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Barclays decreased their target price on Immunocore from $92.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Immunocore presently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

Immunocore Price Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 5.15 and a current ratio of 5.17. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -25.58 and a beta of 0.73. The business’s fifty day simple moving average is $35.62 and its 200 day simple moving average is $44.75.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) EPS for the quarter, topping 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 firm had revenue of $75.40 million for the quarter, compared to analyst estimates of $74.58 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. Research analysts predict that Immunocore Holdings plc will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunocore

Institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. acquired a new stake in shares of Immunocore in the 2nd quarter valued at about $3,686,000. The Manufacturers Life Insurance Company raised its stake in shares of Immunocore by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,753 shares of the company’s stock valued at $4,126,000 after purchasing an additional 33,003 shares in the last quarter. Millennium Management LLC raised its stake in shares of Immunocore by 124.4% in the 2nd 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 in the last quarter. Armistice Capital LLC raised its stake in shares of Immunocore by 495.1% in the 2nd 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. Finally, Squarepoint Ops LLC raised its stake in shares of Immunocore by 2,265.8% in the 2nd quarter. Squarepoint Ops LLC now owns 73,766 shares of the company’s stock valued at $2,500,000 after purchasing an additional 70,648 shares in the last quarter. Institutional investors and hedge funds 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.