Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi Sells 5,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 5,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total value of $180,750.00. Following the sale, the director owned 16,300 shares of the company’s stock, valued at $589,245. This trade represents a 23.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Crinetics Pharmaceuticals Trading Up 2.7%

Shares of NASDAQ:CRNX opened at $37.49 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $57.99. The stock has a market cap of $3.93 billion, a PE ratio of -7.59 and a beta of 0.23. The stock’s fifty day simple moving average is $46.96 and its two-hundred day simple moving average is $43.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. During the same period in the prior year, the company earned ($0.88) earnings per share. The business’s quarterly revenue was up NaN% on a year-over-year basis. On average, sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Crinetics Pharmaceuticals by 44.3% in the third quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock valued at $349,110,000 after buying an additional 2,574,683 shares during the period. Baker BROS. Advisors LP lifted its holdings in Crinetics Pharmaceuticals by 488.9% during the fourth quarter. Baker BROS. Advisors LP now owns 1,648,869 shares of the company’s stock valued at $76,755,000 after purchasing an additional 1,368,869 shares during the last quarter. Farallon Capital Management LLC boosted its position in Crinetics Pharmaceuticals by 20.2% during the fourth quarter. Farallon Capital Management LLC now owns 6,933,098 shares of the company’s stock worth $322,736,000 after purchasing an additional 1,163,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Crinetics Pharmaceuticals by 279.2% in the third quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock worth $52,426,000 after purchasing an additional 926,765 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 73.6% in the fourth quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock worth $68,723,000 after purchasing an additional 625,779 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRNX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, January 12th. Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Citizens Jmp decreased their target price on Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $74.78.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.