Immunocore (NASDAQ:IMCR) Trading Down 3.4% – Time to Sell?

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR)’s share price dropped 3.4% during mid-day trading on Monday . The company traded as low as $34.03 and last traded at $33.51. Approximately 30,767 shares traded hands during trading, a decline of 91% from the average daily volume of 360,779 shares. The stock had previously closed at $34.68.

Analysts Set New Price Targets

A number of research firms have recently commented on IMCR. Wall Street Zen raised shares of Immunocore from a “hold” rating to a “buy” rating in a research report on Saturday. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Immunocore in a research note on Monday, June 2nd. Oppenheimer lifted their target price on shares of Immunocore from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of Immunocore in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Immunocore in a research report on Tuesday, May 27th. They issued a “buy” rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.89.

Immunocore Trading Down 1.7%

The company has a debt-to-equity ratio of 1.03, a current ratio of 6.36 and a quick ratio of 6.31. The business’s 50 day simple moving average is $31.35 and its 200 day simple moving average is $30.29. The stock has a market cap of $1.63 billion, a P/E ratio of -75.25 and a beta of 0.83.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.45. Immunocore had a negative net margin of 6.48% and a negative return on equity of 5.86%. The firm had revenue of $125.13 million during the quarter, compared to the consensus estimate of $108.82 million. During the same period last year, the firm posted ($0.49) EPS. The firm’s quarterly revenue was up 33.6% on a year-over-year basis. On average, analysts expect that Immunocore Holdings PLC Sponsored ADR will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IMCR. Checkpoint Capital L.P. acquired a new position in Immunocore in the first quarter valued at approximately $267,000. Banque Transatlantique SA bought a new stake in shares of Immunocore during the first quarter worth $278,000. Frazier Life Sciences Management L.P. raised its stake in shares of Immunocore by 176.9% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 301,170 shares of the company’s stock valued at $8,936,000 after purchasing an additional 192,408 shares during the period. Baker BROS. Advisors LP lifted its stake in Immunocore by 53.3% in the 1st quarter. Baker BROS. Advisors LP now owns 2,322,656 shares of the company’s stock valued at $68,913,000 after acquiring an additional 807,338 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Immunocore by 45.1% in the first quarter. Royal Bank of Canada now owns 44,011 shares of the company’s stock worth $1,306,000 after purchasing an additional 13,689 shares in the last quarter. 84.50% of the stock is owned by institutional investors.

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.