Do You Still Have A Reason To Buy Crinetics Pharmaceuticals Inc (NASDAQ: CRNX) After A 9.80% Jump In The Last Week?


During the last session, Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)’s traded shares were 2.91 million, with the beta value of the company hitting 0.62. At the end of the trading day, the stock’s price was $47.62, reflecting an intraday gain of 3.52% or $1.62. The company’s market capitalization is $3.71B, and the average intraday trading volume over the past 10 days was 1.14 million shares, and the average trade volume was 770.13K shares over the past three months.

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) trade information

Crinetics Pharmaceuticals Inc (CRNX) registered a 3.52% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.52% in intraday trading to $47.62, hitting a weekly high. The stock’s 5-day price performance is 9.80%, and it has moved by 9.45% in 30 days. Based on these gigs, the overall price performance for the year is 196.51%. The short interest in Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) is 5.01 million shares and it means that shorts have 6.97 day(s) to cover.

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Crinetics Pharmaceuticals Inc (CRNX) estimates and forecasts

Statistics show that Crinetics Pharmaceuticals Inc has outperformed its competitors in share price, compared to the industry in which it operates. Crinetics Pharmaceuticals Inc (CRNX) shares have gone up 75.46% during the last six months, with a year-to-date growth rate more than the industry average at 9.49% against 8.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 4.70% this quarter and then jump 14.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -46.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $260k as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $810k by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.68 million and $988k respectively. In this case, analysts expect current quarter sales to shrink by -90.30% and then drop by -18.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -10.59%. While earnings are projected to return 13.21% in 2024.

CRNX Dividends

Crinetics Pharmaceuticals Inc is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)’s Major holders

Crinetics Pharmaceuticals Inc insiders own 1.92% of total outstanding shares while institutional holders control 97.38%, with the float percentage being 99.28%. Driehaus Capital Management, LLC is the largest shareholder of the company, while 264 institutions own stock in it. As of Jun 29, 2023, the company held over 5.3 million shares (or 9.69% of all shares), a total value of $95.47 million in shares.

The next largest institutional holding, with 4.6 million shares, is of Blackrock Inc.’s that is approximately 8.41% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $82.9 million.

Also, the Mutual Funds coming in first place with the largest holdings of Crinetics Pharmaceuticals Inc (CRNX) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 1.61 million shares. This amounts to just over 2.94 percent of the company’s overall shares, with a $28.99 million market value. The same data shows that the other fund manager holds slightly less at 1.22 million, or about 2.23% of the stock, which is worth about $21.12 million.