CinCor Pharma Inc. (NASDAQ: CINC) stock jumped 49.25% on Friday to $35.00 against a previous-day closing price of $23.45. With 2.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.15 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $43.15 whereas the lowest price it dropped to was $30.58. The 52-week range on CINC shows that it touched its highest point at $30.66 and its lowest point at $13.00 during that stretch. It currently has a 1-year price target of $32.00.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CINC was up-trending over the past week, with a rise of 56.25%, but this was up by 73.27% over a month. Three-month performance surged to 61.07% while six-month performance rose 71.91%. A look at the trailing 12-month EPS for CINC yields -1.73 with Next year EPS estimates of -2.97. For the next quarter, that number is -0.50. This implies an EPS growth rate of -125.90% for this year and -30.30% for next year.
Float and Shares Shorts:
At present, 33.43 million CINC shares are outstanding with a float of 9.17 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.89 million, which was 2.37% higher than short shares on Jun 14, 2022. In addition to Mr. Marc M. P. de Garidel as the firm’s CEO & Director, Ms. Mary Theresa Coelho M.B.A. serves as its EVP, CFO & Chief Bus. Devel. Officer.
Through their ownership of 90.22% of CINC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.43% of CINC, in contrast to 25.73% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CINC with 6.15% of the stake, Perceptive Advisors LLC holds 2,319,117 shares worth 2,319,117. A second-largest stockholder of CINC, Adage Capital Management LP, holds 2,089,013 shares, controlling over 5.54% of the firm’s shares. BVF Partners LP is the third largest shareholder in CINC, holding 1,735,293 shares or 4.60% stake. With a 1.01% stake in CINC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 380,124 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 0.76% of CINC stock, is the second-largest Mutual Fund holder. It holds 287,457 shares valued at 5.42 million. Vanguard Extended Market Index Fu holds 0.43% of the stake in CINC, owning 163,220 shares worth 3.08 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CINC since 3 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CINC analysts setting a high price target of $60.00 and a low target of $45.00, the average target price over the next 12 months is $51.67. Based on these targets, CINC could surge 71.43% to reach the target high and rise by 28.57% to reach the target low. Reaching the average price target will result in a growth of 47.63% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CINC will report FY 2022 earnings on 03/21/2023. Analysts have provided yearly estimates in a range of -$2.27 being high and -$2.52 being low. For CINC, this leads to a yearly average estimate of -$2.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CinCor Pharma Inc. surprised analysts by -$0.06 when it reported -$0.56 EPS against a consensus estimate of -$0.50. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.60 and the low estimate is -$0.65. The average estimate for the next quarter is thus -$0.62.
Summary of Insider Activity:
Insiders traded CINC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 29,066,110 while 0 shares were sold.