The stock of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is now priced at $15.03 and the shares are 0.53 points up or 3.66% higher compared to its previous closing price of $14.5. The stock had 106573 contracts set over the past session. CRNX shares’ daily volume is compared to its average trading volume at 225288 shares. However, it has a float of 16.5 million and although its performance was 3.02% over the week, it’s one to watch. CRNX share price recently placing at $14.2 to $15.09. However, some brokerage firms have priced the stock below the average, including one that has called $30.
The shorts are climbing into the Crinetics Pharmaceuticals, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the CRNX shares have risen. Short interest in the stock represents just 15.38% of its float, but the volume has raised by 1155550. The volume of shorted shares rised to 2.537 million from 1.382 million shares over the last two weeks. The average intraday trading volume has been 504015 shares, which means that days to cover moved to roughly 5.033737.
In the last trading session, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) raised by $0.44 over the week and lost -$8.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $26.67. The stock recorded its established 52-week high on 01/09/20.
Since 03/17/20, the stock has traded to a low of $10.63 at 41.39%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Crinetics Pharmaceuticals, Inc.’s two-week RSI is 40.3. This suggests that the stock is neutral at the moment and that CRNX shares’ price movement remains stable. The stochastic readings are equally revealing at 16.16% meaning the CRNX share price is currently in overbought territory.
The technical chart shows that the CRNX stock will likely settle at between $15.35 and $15.66 per share. However, if the stock dips below $14.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.88.
Currently, the stock is trading in the red of MACD, with a reading of -0.46. 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 CRNX a rating of Buy in their intiating review released on December 23. H.C. Wainwright analysts see the stock as a Buy with a target price of $35 in a flash note released to investors on February 14 initiating covering the stock. Piper Jaffray analysts see the stock as Overweight when the analysts initiated the share price coverage on August 13, placing it at $40.
The average rating for the CRNX equity is 1.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Crinetics Pharmaceuticals, Inc. polled by Reuters, 0 rated CRNX as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.