Immunocore (NASDAQ:IMCR) Hits New 52-Week Low – Should You Sell?

Immunocore Holdings plc (NASDAQ:IMCR) shares reached a new 52-week low on Friday . The company traded as low as $28.84 and last traded at $29.03, with a volume of 34148 shares changing hands. The stock had previously closed at $30.31.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho downgraded shares of Immunocore from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $72.00 to $38.00 in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of Immunocore in a research report on Thursday, October 24th. Morgan Stanley restated an “equal weight” rating and issued a $35.00 price objective (down from $74.00) on shares of Immunocore in a research report on Friday. Guggenheim lowered Immunocore from a “buy” rating to a “neutral” rating in a research report on Monday, October 7th. Finally, Cantor Fitzgerald reissued 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 issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Immunocore presently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Immunocore Stock Performance

The firm has a market cap of $1.45 billion, a PE ratio of -30.43 and a beta of 0.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.76 and a current ratio of 3.78. The firm’s 50 day moving average price is $32.28 and its two-hundred day moving average price is $35.28.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.50. Immunocore had a negative return on equity of 12.84% and a negative net margin of 15.87%. The company had revenue of $80.25 million for the quarter, compared to analysts’ expectations of $78.94 million. During the same period in the prior year, the firm earned ($0.59) earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, research analysts forecast that Immunocore Holdings plc will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Immunocore

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