CinCor Pharma Inc. [NASDAQ: CINC] closed the trading session at $28.74 on 01/09/23. The day’s price range saw the stock hit a low of $27.47, while the highest price level was $29.425. The company report on January 9, 2023 that CinCor Pharma to be Acquired by AstraZeneca.
Marc de Garidel, Chief Executive Officer at CinCor, said: “We are excited about the proposed acquisition of CinCor Pharma by AstraZeneca as we believe it offers the prospect of accelerating the development timeline and expanding the breadth of benefits patients with cardiorenal diseases might obtain from baxdrostat, if approved. CinCor is committed to ensuring a smooth transition of the development responsibilities to AstraZeneca once the acquisition is consummated. Thank you to all who have played, and will continue to play, essential roles in developing and evaluating baxdrostat as a potential novel treatment for cardiorenal diseases.”.
The stocks have a year to date performance of 133.85 percent and weekly performance of 133.85 percent. The stock has been moved at 43.70 percent over the last six months. The stock has performed 129.37 percent around the most recent 30 days and changed -14.18 percent over the most recent 3-months.
If compared to the average trading volume of 412.98K shares, CINC reached to a volume of 8782258 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about CinCor Pharma Inc. [CINC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CINC shares is $37.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CINC stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for CinCor Pharma Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 07, 2022. The new note on the price target was released on November 29, 2022, representing the official price target for CinCor Pharma Inc. stock. Previously, the target price had yet another drop from $60 to $22, while Morgan Stanley kept a Equal-Weight rating on CINC stock.
The Average True Range (ATR) for CinCor Pharma Inc. is set at 2.19 The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 11.99.
CINC stock trade performance evaluation
CinCor Pharma Inc. [CINC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 133.85. With this latest performance, CINC shares gained by 129.37% in over the last four-week period, additionally plugging by 43.70% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CINC stock in for the last two-week period is set at 81.28, with the RSI for the last a single of trading hit 90.79, and the three-weeks RSI is set at 72.02 for CinCor Pharma Inc. [CINC]. The present Moving Average for the last 50 days of trading for this stock 19.32, while it was recorded at 15.20 for the last single week of trading, and 23.43 for the last 200 days.
CinCor Pharma Inc. [CINC]: An insightful look at the core fundamentals
Return on Equity for this stock declined to -69.73, with Return on Assets sitting at -60.00.
CinCor Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 52.00 and a Current Ratio set at 52.00.
CinCor Pharma Inc. [CINC]: Insider Ownership positions
There are presently around $1,071 million, or 94.70% of CINC stock, in the hands of institutional investors. The top three institutional holders of CINC stocks are: SOFINNOVA INVESTMENTS, INC. with ownership of 6,079,949, which is approximately 9.078% of the company’s market cap and around 0.10% of the total institutional ownership; 5AM VENTURE MANAGEMENT, LLC, holding 4,937,646 shares of the stock with an approximate value of $141.91 million in CINC stocks shares; and GENERAL ATLANTIC, L.P., currently with $120.98 million in CINC stock with ownership of nearly 2.011% of the company’s market capitalization.
Positions in CinCor Pharma Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 71 institutional holders increased their position in CinCor Pharma Inc. [NASDAQ:CINC] by around 8,213,872 shares. Additionally, 17 investors decreased positions by around 2,556,629 shares, while 3 investors held positions by with 26,505,237 shares. The mentioned changes placed institutional holdings at 37,275,738 shares, according to the latest SEC report filing. CINC stock had 33 new institutional investments in for a total of 2,449,014 shares, while 5 institutional investors sold positions of 1,110,078 shares during the same period.