Citigroup has recently initiated Crinetics Pharmaceuticals Inc (CRNX) stock to Buy rating, as announced on March 6, 2024, according to Finviz. Earlier, on January 16, 2024, Morgan Stanley had initiated the stock to Overweight, setting a price target of $50. Jefferies also initiated Hold rating with a price target of $35. Additionally, JP Morgan resumed Overweight rating on November 20, 2023, with a target price of $35. Cantor Fitzgerald analysts, in their report published on October 24, 2023, also resumed Overweight rating and set a price target of $52 for Crinetics Pharmaceuticals Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Crinetics Pharmaceuticals Inc (CRNX) Stock Trading Recap
On Tuesday, Crinetics Pharmaceuticals Inc (CRNX) stock saw a decline, ending the day at $52.99 which represents a decrease of $-0.95 or -1.76% from the prior close of $53.94. The stock opened at $54.11 and touched a low of $52.3 during the day, reaching a high of $54.31. The volume of shares traded was 0.54 million falling short of the average volume of 0.74 million.
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CRNX Stock Performance and Moving Averages
In recent trading, Crinetics Pharmaceuticals Inc (CRNX) stock price has shown some volatility, fluctuating 5.14% over the last five trades and 2.65% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 39.70%, and it has gained 18.52% in the previous three months. Currently, CRNX is trading at 0.61%, 1.70%, and 19.96% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CRNX, a Healthcare sector stock, is trading -5.00% below its 52-week high but remains 109.03% above its 52-week low. The Average True Range (ATR) (14 days) of 2.01 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Crinetics Pharmaceuticals Inc’s Profitability and Valuation Ratios
Crinetics Pharmaceuticals Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 0.00% with a gross margin of 39.70%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Crinetics Pharmaceuticals Inc’s market capitalization stands at $4.24 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Book Ratio is 5.06, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 6.01% of Crinetics Pharmaceuticals Inc (CRNX)’s shares, while financial institutions hold 100.51%.
Notable insider trades include Betz Stephen F., Chief Scientific Officer at Crinetics Pharmaceuticals Inc (CRNX), who sold 3000 shares on Aug 26 ’24, at $53.19 each, totaling $0.16 million. On Aug 12 ’24, Betz Stephen F., Chief Scientific Officer, sold 3000 shares for $47.68 each, amounting to $0.14 million. Additionally, on Jul 25 ’24, Betz Stephen F. sold 3000 shares at $53.43 each, generating $0.16 million.
