Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Sells 25,000 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now owns 111,092 shares in the company, valued at approximately $5,677,912.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Marc Wilson also recently made the following trade(s):

• On Thursday, July 25th, Marc Wilson sold 19,056 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $53.88, for a total transaction of $1,026,737.28.
• On Monday, July 15th, Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $55.00, for a total transaction of $1,375,000.00.

Crinetics Pharmaceuticals Stock Performance

CRNX opened at $54.02 on Thursday. The firm’s fifty day moving average is $51.98 and its two-hundred day moving average is $48.55. The firm has a market cap of $4.26 billion, a PE ratio of -14.29 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.35 and a twelve month high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the previous 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. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. HC Wainwright lifted their price target on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price target on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in Crinetics Pharmaceuticals by 366,571.4% during the 1st quarter. Russell Investments Group Ltd. now owns 51,334 shares of the company’s stock worth $2,403,000 after buying an additional 51,320 shares during the period. Swiss National Bank increased its holdings in Crinetics Pharmaceuticals by 21.4% during the 1st quarter. Swiss National Bank now owns 126,500 shares of the company’s stock worth $5,921,000 after purchasing an additional 22,300 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after purchasing an additional 72,624 shares during the period. First Light Asset Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock valued at $70,725,000 after purchasing an additional 404,443 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Crinetics Pharmaceuticals by 1,224.8% during the second quarter. SG Americas Securities LLC now owns 79,051 shares of the company’s stock worth $3,541,000 after buying an additional 73,084 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Company Profile

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.