Immunocore (NASDAQ:IMCR) Hits New 12-Month Low – Here’s What Happened

Immunocore Holdings plc (NASDAQ:IMCR)’s stock price reached a new 52-week low on Friday . The stock traded as low as $27.19 and last traded at $27.54, with a volume of 127269 shares trading hands. The stock had previously closed at $29.04.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMCR. Morgan Stanley reissued an “equal weight” rating and set a $35.00 price target on shares of Immunocore in a report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and set a $71.00 target price on shares of Immunocore in a research report on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.64.

Immunocore Stock Performance

The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $29.80 and a two-hundred day moving average price of $30.80. The firm has a market cap of $1.36 billion, a PE ratio of -28.69 and a beta of 0.75.

Insider Buying and Selling at Immunocore

In other Immunocore news, Director Bros. Advisors Lp Baker acquired 807,338 shares of the business’s stock in a transaction on Monday, March 17th. The stock was bought at an average price of $29.72 per share, for a total transaction of $23,994,085.36. Following the acquisition, the director now owns 2,144,060 shares in the company, valued at approximately $63,721,463.20. The trade was a 60.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunocore

Large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Immunocore by 7,437.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,257 shares of the company’s stock worth $2,872,000 after buying an additional 91,033 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Immunocore during the 3rd quarter worth $739,000. State Street Corp boosted its position in shares of Immunocore by 63.9% during the 3rd quarter. State Street Corp now owns 76,671 shares of the company’s stock valued at $2,387,000 after acquiring an additional 29,897 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Immunocore by 65.6% in the third quarter. Two Sigma Advisers LP now owns 757,700 shares of the company’s stock valued at $23,587,000 after purchasing an additional 300,200 shares during the period. Finally, Wellington Management Group LLP increased its position in Immunocore by 10.5% during the third quarter. Wellington Management Group LLP now owns 7,048,833 shares of the company’s stock worth $219,430,000 after purchasing an additional 668,382 shares during the last quarter. 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.