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New Big Money Means Crinetics Pharmaceuticals Inc (CRNX) Investors Could Reap Benefit

Crinetics Pharmaceuticals Inc (NASDAQ: CRNX) is 33.84% higher on its value in year-to-date trading and has touched a low of $15.50 and a high of $47.62 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRNX stock was last observed hovering at around $46.00 in the last trading session, with the day’s gains setting it 1.62%.

Currently trading at $47.62, the stock is 10.83% and 18.59% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.91 million and changing 3.52% at the moment leaves the stock 60.93% off its SMA200. CRNX registered 196.51% gain for a year compared to 6-month gain of 75.46%. The firm has a 50-day simple moving average (SMA 50) of $766.99 and a 200-day simple moving average (SMA200) of -$13.90.

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The stock witnessed a 9.45% loss in the last 1 month and extending the period to 3 months gives it a 34.56%, and is 9.80% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.77% over the week and 5.41% over the month.

Crinetics Pharmaceuticals Inc (CRNX) has around 290 employees, a market worth around $3.71B and $0.00M in sales. Distance from 52-week low is 207.23% and 0.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-36.57%).

Crinetics Pharmaceuticals Inc quarterly earnings per share for the current quarter are estimated at -$0.81 with sales reaching $260k over the same period.The EPS is expected to grow by 13.21% this year, but quarterly earnings will post -46.90% year-over-year. Quarterly sales are estimated to shrink -90.30% in year-over-year returns.

264 institutions hold shares in Crinetics Pharmaceuticals Inc (CRNX), with institutional investors hold 99.28% of the company’s shares. The shares outstanding are 77.93M, and float is at 71.18M with Short Float at 7.04%. Institutions hold 97.38% of the Float.

The top institutional shareholder in the company is Driehaus Capital Management, LLC with over 5.3 million shares valued at $95.47 million. The investor’s holdings represent 9.69% of the CRNX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 4.6 million shares valued at $82.9 million to account for 8.41% of the shares outstanding. The other top investors are Orbimed Advisors LLC. which holds 3.95 million shares representing 7.22% and valued at over $71.19 million, while Wellington Management Group, LLP holds 6.59% of the shares totaling 3.6 million with a market value of $64.9 million.

Crinetics Pharmaceuticals Inc (CRNX) Insider Activity

The most recent transaction is an insider sale by Okey Stephanie, the company’s Director. SEC filings show that Okey Stephanie sold 17,500 shares of the company’s common stock on Mar 28 ’24 at a price of $46.38 per share for a total of $0.81 million. Following the sale, the insider now owns 6000.0 shares.

Crinetics Pharmaceuticals Inc disclosed in a document filed with the SEC on Mar 22 ’24 that Knight Jeff E. (Chief Operating Officer) sold a total of 32,359 shares of the company’s common stock. The trade occurred on Mar 22 ’24 and was made at $44.31 per share for $1.43 million. Following the transaction, the insider now directly holds 52580.0 shares of the CRNX stock.

Still, SEC filings show that on Mar 20 ’24, Fust Matthew K (Director) disposed off 60,000 shares at an average price of $44.14 for $2.65 million. The insider now directly holds 18,536 shares of Crinetics Pharmaceuticals Inc (CRNX).

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