Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) shares, rose in value, with the stock price down by -2.04% to the previous day’s close as strong demand from buyers drove the stock to $46.65.
Actively observing the price movement in the last trading, the stock closed the session at $47.62. The value of beta (5-year monthly) was 0.62. Referring to stock’s 52-week performance, its high was $48.13, and the low was $15.50. On the whole, CRNX has fluctuated by 8.67% over the past month.
With the market capitalization of Crinetics Pharmaceuticals Inc currently standing at about $3.64 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.81, which is expected to increase to -$0.69 for fiscal year -$3.29 and then to about -$3.54 by fiscal year 2025. Data indicates that the EPS growth is expected to be 10.80% in 2025, while the next year’s EPS growth is forecast to be -7.60%.
According to the average forecast, sales growth in current quarter could jump down -90.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.13 million, representing a decrease of -46.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CRNX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CRNX currently trading nearly 7.98% and 15.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.08, while the 7-day volatility ratio is showing 6.55% which for the 30-day chart, stands at 5.59%. Furthermore, Crinetics Pharmaceuticals Inc (CRNX)’s beta value is 0.62, and its average true range (ATR) is 2.61.
A comparison of Crinetics Pharmaceuticals Inc (CRNX) with its peers suggests the former has fared considerably weaker in the market. CRNX showed an intraday change of -2.04% in last session, and over the past year, it grew by 178.67%%.
Data on historical trading for Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) indicates that the trading volumes over the past 10 days have averaged 1.14 million and over the past 3 months, they’ve averaged 807.45K. According to company’s latest data on outstanding shares, there are 77.93 million shares outstanding.
Nearly 8.67% of Crinetics Pharmaceuticals Inc’s shares belong to company insiders and institutional investors own 89.34% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.01 million shares as on Mar 15, 2024, resulting in a short ratio of 6.97. According to the data, the short interest in Crinetics Pharmaceuticals Inc (CRNX) stood at 6.43% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.51 million. The stock has risen by 31.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRNX stock heading into the next quarter.
