Immunocore (NASDAQ:IMCR) Stock Rating Lowered by Zacks Research

Immunocore (NASDAQ:IMCR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

IMCR has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Immunocore in a research report on Tuesday, April 21st. Needham & Company LLC lifted their price objective on shares of Immunocore from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Immunocore from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Mizuho set a $38.00 price objective on shares of Immunocore in a research note on Thursday, February 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of Immunocore in a research note on Monday, April 20th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.89.

Immunocore Trading Up 0.8%

Shares of IMCR opened at $28.79 on Monday. The company’s fifty day moving average is $31.25 and its 200 day moving average is $33.46. Immunocore has a fifty-two week low of $27.44 and a fifty-two week high of $40.71. The stock has a market capitalization of $1.46 billion, a PE ratio of -41.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.04.

Immunocore (NASDAQ:IMCR) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($0.60) earnings per share for the quarter. Immunocore had a negative return on equity of 9.20% and a negative net margin of 8.88%.The business had revenue of $104.48 million during the quarter. Sell-side analysts expect that Immunocore will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Immunocore

A number of large investors have recently made changes to their positions in IMCR. Millennium Management LLC boosted its stake in shares of Immunocore by 334.3% during the third quarter. Millennium Management LLC now owns 1,265,965 shares of the company’s stock valued at $45,993,000 after purchasing an additional 974,463 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Immunocore during the fourth quarter valued at $20,305,000. Janus Henderson Group PLC purchased a new stake in shares of Immunocore during the fourth quarter valued at $15,734,000. Bellevue Group AG boosted its stake in shares of Immunocore by 14.5% during the third quarter. Bellevue Group AG now owns 2,796,803 shares of the company’s stock valued at $101,608,000 after purchasing an additional 354,973 shares during the period. Finally, Tang Capital Management LLC boosted its stake in shares of Immunocore by 14.0% during the fourth quarter. Tang Capital Management LLC now owns 2,628,538 shares of the company’s stock valued at $91,237,000 after purchasing an additional 322,930 shares during the period. 84.50% of the stock is owned by hedge funds and other institutional investors.

Immunocore Company Profile

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.