Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) has a beta value of 0.62 and has seen 3.09 million shares traded in the last trading session. The company, currently valued at $3.52B, closed the last trade at $45.18 per share which meant it gained $7.25 on the day or 19.11% during that session. The CRNX stock price is -5.31% off its 52-week high price of $47.58 and 66.29% above the 52-week low of $15.23. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.7 million shares traded. The 3-month trading volume is 746.78K shares.
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) trade information
Sporting 19.11% in the green in last session, the stock has traded in the green over the last five days, when the CRNX stock price touched $45.18 or saw a rise of 1.74%. Year-to-date, Crinetics Pharmaceuticals Inc shares have moved 26.98%, while the 5-day performance has seen it change 10.87%. Over the past 30 days, the shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) have changed 19.46%. Short interest in the company has seen 4.74 million shares shorted with days to cover at 6.76.
Crinetics Pharmaceuticals Inc (CRNX) estimates and forecasts
Figures show that Crinetics Pharmaceuticals Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 57.81% over the past 6 months, with this year growth rate of 9.49%, compared to 11.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 4.70% and 14.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be -46.90%.
9 analysts offering their estimates for the company have set an average revenue estimate of $260k for the current quarter. 9 have an estimated revenue figure of $810k for the next quarter concluding in Jun 2024. Year-ago sales stood $2.68 million and $988k respectively for this quarter and the next, and analysts expect sales will shrink by -90.30% for the current quarter and -18.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -10.59% over the past 5 years.
CRNX Dividends
Crinetics Pharmaceuticals Inc is expected to release its next earnings report between May 02 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)’s Major holders
Insiders own 1.96% of the company shares, while shares held by institutions stand at 97.38% with a share float percentage of 99.33%. Investors are also buoyed by the number of investors in a company, with Crinetics Pharmaceuticals Inc having a total of 264 institutions that hold shares in the company. The top two institutional holders are Driehaus Capital Management, LLC with over 5.3 million shares worth more than $95.47 million. As of Jun 29, 2023, Driehaus Capital Management, LLC held 9.69% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 4.6 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $82.9 million and represent 8.41% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2023, the former fund manager holds about 2.94% shares in the company for having 1.61 million shares of worth $28.99 million while later fund manager owns 1.22 million shares of worth $21.12 million as of Aug 30, 2023, which makes it owner of about 2.23% of company’s outstanding stock.
