Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $159,570.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Stephen F. Betz sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.19, for a total value of $159,570.00. Following the sale, the insider now directly owns 69,611 shares in the company, valued at approximately $3,702,609.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Crinetics Pharmaceuticals Trading Down 0.1 %

Shares of CRNX traded down $0.07 during mid-day trading on Wednesday, hitting $54.40. 441,228 shares of the company’s stock were exchanged, compared to its average volume of 803,660. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $55.78. The business’s 50 day moving average is $50.11 and its two-hundred day moving average is $46.40. The firm has a market capitalization of $4.29 billion, a P/E ratio of -14.41 and a beta of 0.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the firm earned ($0.94) earnings per share. The company’s revenue for the quarter was down 59.6% compared to the same quarter last year. On average, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.54 earnings per share for the current year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of large investors have recently bought and sold shares of CRNX. Handelsbanken Fonder AB purchased a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $445,000. Victory Capital Management Inc. boosted its holdings in Crinetics Pharmaceuticals by 309.2% in the 4th quarter. Victory Capital Management Inc. now owns 184,107 shares of the company’s stock valued at $6,551,000 after purchasing an additional 139,117 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 718.6% in the 4th quarter. Fisher Asset Management LLC now owns 440,893 shares of the company’s stock valued at $15,687,000 after buying an additional 387,033 shares during the period. AJOVista LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $58,000. Finally, Lisanti Capital Growth LLC boosted its stake in shares of Crinetics Pharmaceuticals by 100.6% in the fourth quarter. Lisanti Capital Growth LLC now owns 100,245 shares of the company’s stock valued at $3,567,000 after buying an additional 50,265 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. HC Wainwright increased their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.75.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.