The stock of Cortexyme, Inc. (NASDAQ:CRTX) is now priced at $47.23 and the shares are 0.99 points up or 2.14% higher compared to its previous closing price of $46.24. The stock had 94667 contracts set over the past session. CRTX shares’ daily volume is compared to its average trading volume at 155730 shares. However, it has a float of 15.58 million and although its performance was 2.76% over the week, it’s one to watch. Analysts have given the CRTX stock a yearly average price target of $78.14 per share. It means the stock’s upside potential is 65.45% with the CRTX share price recently placing at $46 to $47.61. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are running away from the Cortexyme, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the CRTX shares have declined. Short interest in the stock represents just 9.68% of its float, but the volume has dropped by -235088. The volume of shorted shares dropped to 1.509 million from 1.744 million shares over the last two weeks. The average intraday trading volume has been 197773 shares, which means that days to cover moved to roughly 7.627528.
In the last trading session, Cortexyme, Inc. (NASDAQ:CRTX) raised by $0.93 over the week and gained $0.86 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $73.84. The stock recorded its established 52-week high on 02/14/20.
Since 08/30/19, the stock has traded to a low of $19.35 at 144.08%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Cortexyme, Inc.’s two-week RSI is 50.48. This suggests that the stock is neutral at the moment and that CRTX shares’ price movement remains stable. The stochastic readings are equally revealing at 30.08% meaning the CRTX share price is currently in neutral territory.
The technical chart shows that the CRTX stock will likely settle at between $47.23 and $48.23 per share. However, if the stock dips below $45.62, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $45.01.
Currently, the stock is trading in the red of MACD, with a reading of -0.22. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CRTX a rating of Buy in their intiating review released on June 24. Jefferies analysts see the stock as a Buy with a target price of $59 in a flash note released to investors on June 02 initiating covering the stock. JMP Securities analysts see the stock as Mkt Outperform when the analysts initiated the share price coverage on June 03, placing it at $53.
The average rating for the CRTX equity is 2.4 and is currently gathering a bullish momentum. Of 7 analysts tracking Cortexyme, Inc. polled by Reuters, 1 rated CRTX as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.