Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $195,350.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now directly owns 31,748 shares in the company, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Crinetics Pharmaceuticals Stock Down 2.7 %

NASDAQ CRNX traded down $1.10 on Wednesday, hitting $39.30. 614,538 shares of the stock were exchanged, compared to its average volume of 1,100,311. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $35.51 and a fifty-two week high of $62.53. The company has a market cap of $3.64 billion, a PE ratio of -10.54 and a beta of 0.56. The company has a 50-day moving average price of $48.56 and a 200-day moving average price of $52.07.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period last year, the firm posted ($1.01) EPS. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRNX. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday. They set a “peer perform” rating on the stock. Finally, Citigroup increased their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.64.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals in the fourth quarter worth $41,000. Values First Advisors Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $84,000. Allspring Global Investments Holdings LLC bought a new position in Crinetics Pharmaceuticals in the third quarter valued at about $91,000. KBC Group NV boosted its holdings in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after buying an additional 407 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock worth $143,000 after purchasing an additional 1,008 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.