CinCor Pharma, Inc. (NASDAQ:CINC – Get Rating) traded up 3.4% during trading on Thursday . The company traded as high as $28.17 and last traded at $28.17. 205 shares traded hands during trading, a decline of 100% from the average session volume of 288,825 shares. The stock had previously closed at $27.25.
Analysts Set New Price Targets
CINC has been the topic of several recent research reports. Piper Sandler initiated coverage on CinCor Pharma in a report on Sunday, August 21st. They set an “overweight” rating on the stock. Morgan Stanley increased their price target on CinCor Pharma from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 9th. Finally, Oppenheimer increased their price target on CinCor Pharma from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.67.
CinCor Pharma Price Performance
The business has a 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $22.95.
Insiders Place Their Bets
In other CinCor Pharma news, major shareholder 5Am Partners Vi, Llc bought 600,000 shares of CinCor Pharma stock in a transaction on Monday, August 15th. The shares were acquired at an average price of $30.00 per share, for a total transaction of $18,000,000.00. Following the completion of the purchase, the insider now directly owns 3,953,990 shares in the company, valued at approximately $118,619,700. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Sofinnova Venture Partners X, purchased 500,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the insider now owns 6,073,949 shares in the company, valued at approximately $182,218,470. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder 5Am Partners Vi, Llc purchased 600,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $18,000,000.00. Following the purchase, the insider now owns 3,953,990 shares of the company’s stock, valued at approximately $118,619,700. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,606,000 shares of company stock worth $48,180,000 over the last quarter.
Institutional Investors Weigh In On CinCor Pharma
A number of institutional investors have recently added to or reduced their stakes in the stock. venBio Partners LLC boosted its position in CinCor Pharma by 8.3% during the second quarter. venBio Partners LLC now owns 2,145,035 shares of the company’s stock valued at $40,412,000 after purchasing an additional 164,329 shares in the last quarter. RTW Investments LP bought a new stake in CinCor Pharma during the first quarter valued at about $24,375,000. Rock Springs Capital Management LP bought a new stake in CinCor Pharma during the first quarter valued at about $18,087,000. Omega Fund Management LLC bought a new stake in CinCor Pharma during the first quarter valued at about $16,947,000. Finally, Sands Capital Ventures LLC bought a new stake in CinCor Pharma during the first quarter valued at about $16,663,000.
About CinCor Pharma
CinCor Pharma, Inc, a clinical-stage biopharmaceutical company, engages in the development of drugs for the treatment for cardio-renal diseases. It is involved in developing CIN-107, which is in Phase II clinical trial for the treatment of hypertension, primary aldosteronism, and other cardio-renal diseases, as well as in Phase I clinical trial to treat chronic kidney diseases.
- Get a free copy of the StockNews.com research report on CinCor Pharma (CINC)
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