The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Crinetics Pharmaceuticals Inc shares valued at $148,290 were sold by Betz Stephen F. on May 10 ’24. At $49.43 per share, Betz Stephen F. sold 3,000 shares. The insider’s holdings dropped to 89,643 shares worth approximately $4.53 million following the completion of this transaction.
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Also, Struthers Richard Scott sold 107,448 shares, netting a total of over 5,307,931 in proceeds. Following the sale of shares at $49.40 each, the insider now holds 257,485 shares.
Before that, Pizzuti Dana had sold 14,375 shares from its account. In a trade valued at $639,256, the Chief Med and Dev Officer traded Crinetics Pharmaceuticals Inc shares for $44.47 each. Upon closing the transaction, the insider’s holdings decreased to 14,375 shares, worth approximately $1.4 million.
As published in their initiating research note from Citigroup on March 06, 2024, Crinetics Pharmaceuticals Inc [CRNX] has been a Buy and the price target has been revised to $68. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid January. As of December 21, 2023, Jefferies has initiated its “Hold” rating for CRNX.
Analyzing CRNX Stock Performance
During the last five days, there has been a surge of approximately 0.10%. Over the course of the year, Crinetics Pharmaceuticals Inc shares have jumped approximately 42.05%. Shares of the company reached a 52-week high of $53.70 on 05/22/24 and a 52-week low of $33.67 on 01/05/24. A 50-day SMA is recorded $45.66, while a 200-day SMA reached $34.54. Nevertheless, trading volume fell to 2.91 million shares from 1.1 million shares the previous day.
Support And Resistance Levels for Crinetics Pharmaceuticals Inc (CRNX)
According to the 24-hour chart, there is a support level at 48.69, which, if violated, would cause prices to drop to 46.85. In the upper region, resistance lies at 53.04. The next price resistance is at 55.55. RSI (Relative Strength Index) is 60.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 42.13%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
