As of Thursday close, Crinetics Pharmaceuticals Inc.’s (NASDAQ:CRNX) stock was up $0.55, moving up 1.92 percent to $29.17. The average number of shares traded per day over the past five days has been 1,638,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.11 fall in that time frame. In the last twenty days, the average volume was 3,046,380, while in the previous 50 days, it was 1,529,834.
Since last month, CRNX stock rose 67.84%. Shares of the company fell to $15.76 on 09/08/23, the lowest level in the past month. A 52-week high of $31.00 was reached on 09/12/23 after having rallying from a 52-week low of $15.23. Since the beginning of this year, CRNX’s stock price has risen by 59.40% or $10.87, and marked a new high 11 times. However, the stock has declined by -5.90% since its 52-week high.
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CRNX stock investors should be aware that Crinetics Pharmaceuticals Inc. (CRNX) stock had its last reported insider trading activity 71 days ago on Jul 13. Struthers Richard Scott, the President & CEO of the company, disposed of 14,157 shares for $20.35 on Jul 13. It resulted in a $288,095 divestment by the insider. Struthers Richard Scott sold 11,459 shares at an average price of $20.17 on Jul 12. The insider now owns 644,962 shares following the transaction. On Jul 11, President & CEO Struthers Richard Scott sold 24,384 shares at $20.14 apiece. The transaction was valued at $491,094.
Valuation Metrics
The stock’s beta is 0.73. Besides these, the trailing price-to-sales (P/S) ratio of 329.99, the price-to-book (PB) ratio of 6.23.
Financial Health
In the three months ended June 29, Crinetics Pharmaceuticals Inc.’s quick ratio stood at 8.70, while its current ratio was 8.70, showing that the company is able to pay off its debt. Based on annual data, CRNX earned $172.62 million in gross profit and brought in $4.74 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -53.10%. Return on equity (ROE) for the past 12 months was -61.20%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CRNX’s revenue rose 55.56% to $2.68 million during the quarter, while net income inched up to $0.99 million. While analysts expected Crinetics Pharmaceuticals Inc. to report -$0.86 quarterly earnings, the actual figure was -$0.94 per share, beating the consensus estimate by -9.30%. During the quarter, the company generated -$53.63 million in EBITDA. The liabilities of Crinetics Pharmaceuticals Inc. were 39.14 million at the end of its most recent quarter ended June 29, and its total debt was $2.56 million. The value of shareholders’ equity is $54.69 million.
Technical Picture
This quick technical analysis looks at Crinetics Pharmaceuticals Inc.’s (CRNX) price momentum. With a historical volatility rate of 249.94%, the RSI 9-day stood at 72.50% on 21 September.
With respect to its five-day moving average, the current Crinetics Pharmaceuticals Inc. price is down by -0.38% percent or -$0.11. At present, CRNX shares trade +62.06% above its 20-day simple moving average and +49.28% percent above its 100-day simple moving average. However, the stock is currently trading approximately +46.07% above its SMA50 and +58.36% above its SMA200.
Stochastic coefficient K was 87.27% and Stochastic coefficient D was 87.12%, while ATR was 1.78. Given the Stochastic reading of 87.99% for the 14-day period, the RSI (14) reading has been calculated as 71.80%. As of today, the MACD Oscillator reading stands at 0.19, while the 14-day reading stands at 4.58.
Analyst Ratings
Oppenheimer launched its rating on Crinetics Pharmaceuticals Inc. (NASDAQ: CRNX) to an Outperform in a note to investors on August 31, 2023. Crinetics Pharmaceuticals Inc. (CRNX) has been rated Buy by analysts. According to 0 brokerage firms, CRNX is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Crinetics Pharmaceuticals Inc. stock as buy, with 9 recommending it as overweight.
With a median target price of $50.00, the current consensus forecast for the stock is $33.00 – $60.00. Based on these forecasts, analysts predict Crinetics Pharmaceuticals Inc. (CRNX) will achieve an average price target of $48.50.
