Immunocore (NASDAQ:IMCR) Sets New 52-Week Low – What’s Next?

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $27.50 and last traded at $28.2440, with a volume of 19,802 shares trading hands. The stock had previously closed at $29.04.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen cut Immunocore from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a research report on Friday, July 17th. Morgan Stanley set a $43.00 target price on shares of Immunocore in a report on Friday, August 7th. Mizuho raised their price objective on shares of Immunocore from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, TD Cowen raised shares of Immunocore to a “strong-buy” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Immunocore Price Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of -76.45 and a beta of 0.81. The company has a current ratio of 4.47, a quick ratio of 4.44 and a debt-to-equity ratio of 0.94. The business’s fifty day moving average price is $33.39 and its 200-day moving average price is $31.65.

Immunocore (NASDAQ:IMCR) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%. As a group, sell-side analysts predict that Immunocore Holdings PLC Sponsored ADR will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immunocore

A number of large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Immunocore during the 4th quarter worth approximately $47,000. GAMMA Investing LLC boosted its position in shares of Immunocore by 202.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after acquiring an additional 1,286 shares during the last quarter. denkapparat Operations GmbH acquired a new stake in Immunocore during the second quarter worth about $209,000. Juncture Wealth Strategies LLC acquired a new stake in Immunocore during the third quarter worth about $207,000. Finally, Headlands Technologies LLC purchased a new position in Immunocore during the second quarter worth about $290,000. Institutional investors and hedge funds own 84.50% of the company’s stock.

About Immunocore

Immunocore Holdings plc is a biotechnology company that develops T cell receptor (TCR) therapies designed to treat cancer and other serious diseases. Its ImmTAC platform uses engineered TCRs to recognize disease-associated peptides presented on the surface of cells and redirect the patient’s T cells to destroy those cells.

The company’s lead product, KIMMTRAK (tebentafusp-tebn), is a bispecific TCR therapy approved in the United States and Europe for certain adults with unresectable or metastatic uveal melanoma, a rare form of eye cancer.