Immunocore (NASDAQ:IMCR) Issues Quarterly Earnings Results

Immunocore (NASDAQ:IMCR) posted its quarterly earnings data on Wednesday. The company reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.51, FiscalAI reports. The firm had revenue of $106.68 million during the quarter, compared to the consensus estimate of $145.01 million. Immunocore had a negative return on equity of 7.09% and a negative net margin of 6.68%.The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS.

Immunocore Price Performance

NASDAQ IMCR traded down $0.69 during trading hours on Friday, reaching $29.93. The company’s stock had a trading volume of 50,394 shares, compared to its average volume of 428,149. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.04. The stock has a market cap of $1.52 billion, a PE ratio of -54.38 and a beta of 0.74. The company’s 50-day moving average is $30.87 and its two-hundred day moving average is $33.32. Immunocore has a fifty-two week low of $27.44 and a fifty-two week high of $40.71.

Insider Buying and Selling at Immunocore

In other Immunocore news, insider Leger Tina Amber St sold 1,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total transaction of $32,350.00. Following the sale, the insider owned 1,119 shares in the company, valued at approximately $36,199.65. This represents a 47.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Berman sold 5,965 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.35, for a total value of $192,967.75. Following the transaction, the insider directly owned 5,859 shares of the company’s stock, valued at $189,538.65. The trade was a 50.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,137 shares of company stock valued at $619,082 over the last quarter. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Immunocore

A number of large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Immunocore during the fourth quarter valued at $763,000. Voloridge Investment Management LLC purchased a new position in Immunocore during the fourth quarter worth approximately $978,000. Vestal Point Capital LP purchased a new position in shares of Immunocore in the 4th quarter worth $20,305,000. Virtus Investment Advisers LLC raised its position in shares of Immunocore by 48.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 18,569 shares of the company’s stock worth $645,000 after buying an additional 6,097 shares during the period. Finally, Susquehanna Portfolio Strategies LLC raised its position in shares of Immunocore by 162.0% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 27,607 shares of the company’s stock worth $958,000 after buying an additional 17,069 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

Analysts Set New Price Targets

IMCR has been the subject of several analyst reports. Wall Street Zen downgraded Immunocore from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Jefferies Financial Group downgraded Immunocore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $33.00 in a research note on Monday, March 16th. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Immunocore in a report on Monday, April 20th. Zacks Research cut Immunocore from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Mizuho set a $38.00 price target on Immunocore in a report on Thursday, February 19th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.75.

About Immunocore

Immunocore plc is a clinical?stage biotechnology company focused on the development of novel immunotherapies that harness the body’s own T?cell response to treat cancer and infectious diseases. The company’s proprietary ImmTAC (immune mobilising monoclonal T?cell receptors against cancer) platform utilizes engineered, soluble T?cell receptor (TCR) molecules designed to recognise intracellular peptide–HLA complexes. By redirecting and activating T cells against disease?associated targets, Immunocore aims to address malignancies and persistent viral infections with high unmet medical need.

The company’s most advanced candidate, tebentafusp, is a bispecific ImmTAC molecule that targets gp100, a melanoma?associated antigen, and has received regulatory approval for the treatment of metastatic uveal melanoma.