Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells 2,515 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 2,515 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares of the company’s stock, valued at approximately $2,470,368.60. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Dana Pizzuti also recently made the following trade(s):

• On Monday, February 3rd, Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX opened at $34.42 on Friday. The stock has a market cap of $3.20 billion, a P/E ratio of -9.23 and a beta of 0.58. The firm has a 50 day moving average price of $36.22 and a 200 day moving average price of $48.11. Crinetics Pharmaceuticals, Inc. has a 52-week low of $31.84 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRNX shares. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $74.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. KBC Group NV grew 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 valued at $112,000 after purchasing an additional 407 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Crinetics Pharmaceuticals by 1.9% in the fourth quarter. Martingale Asset Management L P now owns 22,484 shares of the company’s stock valued at $1,150,000 after buying an additional 410 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Crinetics Pharmaceuticals by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock valued at $277,000 after buying an additional 440 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock valued at $1,054,000 after buying an additional 505 shares during the period. Finally, NEOS Investment Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 0.9% in the fourth quarter. NEOS Investment Management LLC now owns 57,933 shares of the company’s stock valued at $2,962,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

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.