Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson Sells 25,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $6,110,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, June 28th, Marc Wilson sold 32,129 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $43.61, for a total value of $1,401,145.69.

Crinetics Pharmaceuticals Stock Down 2.1 %

NASDAQ:CRNX traded down $1.13 during mid-day trading on Wednesday, hitting $53.85. 1,105,348 shares of the company traded hands, compared to its average volume of 858,370. The stock’s fifty day moving average price is $47.30 and its 200-day moving average price is $43.16. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $55.77. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -14.25 and a beta of 0.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The business had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the company earned ($0.85) earnings per share. The business’s revenue for the quarter was down 76.1% compared to the same quarter last year. Equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer lifted their target price on Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Piper Sandler reissued an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. Robert W. Baird lifted their target price on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Several large investors have recently made changes to their positions in CRNX. Vanguard Group Inc. lifted its position in shares of Crinetics Pharmaceuticals by 24.7% in the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after acquiring an additional 674,301 shares in the last quarter. Legato Capital Management LLC purchased a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $412,000. HighMark Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $151,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Crinetics Pharmaceuticals by 450.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,721 shares of the company’s stock valued at $275,000 after acquiring an additional 6,318 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crinetics Pharmaceuticals by 6.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,218 shares of the company’s stock valued at $1,395,000 after acquiring an additional 2,343 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.