Immunocore (NASDAQ:IMCR) Share Price Breaks Above 200-Day Moving Average After Earnings Miss

Immunocore Holdings PLC Sponsored ADR (NASDAQ:IMCR)’s share price crossed above its two hundred day moving average during trading on Monday following a better than expected earnings announcement. The stock has a two hundred day moving average of $31.71 and traded as high as $31.91. Immunocore shares last traded at $31.73, with a volume of 554,354 shares.

The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.11). The firm had revenue of $102.22 million during the quarter, compared to analysts’ expectations of $152.10 million. Immunocore had a negative return on equity of 4.54% and a negative net margin of 4.20%.

Analyst Upgrades and Downgrades

A number of analysts have commented on IMCR shares. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Immunocore in a report on Monday, October 26th. JPMorgan Chase & Co. assumed coverage on shares of Immunocore in a research note on Friday, August 21st. They set an “overweight” rating and a $50.00 price target on the stock. Zacks Research downgraded shares of Immunocore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. TD Cowen upgraded Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immunocore in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Immunocore currently has an average rating of “Moderate Buy” and a consensus price target of $55.86.

Hedge Funds Weigh In On Immunocore

Several institutional investors have recently bought and sold shares of IMCR. Janus Henderson Group PLC lifted its stake in shares of Immunocore by 30.9% in the 1st quarter. Janus Henderson Group PLC now owns 594,712 shares of the company’s stock valued at $17,919,000 after purchasing an additional 140,308 shares during the last quarter. Braidwell LP bought a new position in shares of Immunocore in the second quarter worth about $16,552,000. Renaissance Technologies LLC increased its stake in Immunocore by 16.4% in the 1st quarter. Renaissance Technologies LLC now owns 164,000 shares of the company’s stock worth $4,945,000 after buying an additional 23,100 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Immunocore in the 2nd quarter worth about $2,145,000. Finally, Alps Advisors Inc. increased its stake in Immunocore by 32.7% in the 3rd quarter. Alps Advisors Inc. now owns 68,246 shares of the company’s stock worth $2,067,000 after buying an additional 16,826 shares during the period. Institutional investors own 84.50% of the company’s stock.

Immunocore Stock Up 2.4%

The business’s fifty day moving average is $31.54 and its two-hundred day moving average is $31.71. The company has a market cap of $1.63 billion, a P/E ratio of -48.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.44 and a current ratio of 4.47.

Immunocore Company Profile

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body’s T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach.

The company’s marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.