Walleye Capital LLC Buys Shares of 28,250 CinCor Pharma, Inc. (NASDAQ:CINC)

Walleye Capital LLC bought a new stake in shares of CinCor Pharma, Inc. (NASDAQ:CINCGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor bought 28,250 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Group AG purchased a new stake in CinCor Pharma during the first quarter valued at approximately $38,000. California State Teachers Retirement System purchased a new stake in CinCor Pharma during the first quarter valued at approximately $87,000. JPMorgan Chase & Co. purchased a new stake in shares of CinCor Pharma in the first quarter worth $95,000. American International Group Inc. purchased a new stake in shares of CinCor Pharma in the first quarter worth $101,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of CinCor Pharma in the first quarter worth $142,000.

Insider Buying and Selling at CinCor Pharma

In other CinCor Pharma news, major shareholder Sofinnova Venture Partners X, acquired 500,000 shares of the stock in a transaction on Thursday, August 11th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the insider now directly owns 6,073,949 shares of the company’s stock, valued at $182,218,470. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder 5Am Partners Vi, Llc bought 600,000 shares of CinCor Pharma stock in a transaction dated Monday, August 15th. The shares were acquired at an average price of $30.00 per share, with a total value of $18,000,000.00. Following the completion of the purchase, the insider now owns 3,953,990 shares in the company, valued at approximately $118,619,700. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Sofinnova Venture Partners X, bought 500,000 shares of CinCor Pharma stock in a transaction dated Thursday, August 11th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now owns 6,073,949 shares of the company’s stock, valued at approximately $182,218,470. The disclosure for this purchase can be found here. Insiders acquired 1,606,000 shares of company stock worth $48,180,000 over the last 90 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler started coverage on shares of CinCor Pharma in a research note on Sunday, August 21st. They issued an “overweight” rating for the company. Oppenheimer upped their target price on shares of CinCor Pharma from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 21st. Finally, Morgan Stanley upped their target price on shares of CinCor Pharma from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $41.67.

CinCor Pharma Trading Up 3.2 %

CINC stock opened at $28.11 on Friday. CinCor Pharma, Inc. has a 52 week low of $13.00 and a 52 week high of $43.15. The company has a fifty day simple moving average of $29.41 and a two-hundred day simple moving average of $22.96.

CinCor Pharma (NASDAQ:CINCGet Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.06). On average, equities analysts predict that CinCor Pharma, Inc. will post -2.34 EPS for the current fiscal year.

CinCor Pharma Company Profile

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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.

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Institutional Ownership by Quarter for CinCor Pharma (NASDAQ:CINC)

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