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 firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $36.98 on Friday. The business’s 50 day simple moving average is $47.81 and its 200-day simple moving average is $51.89. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -9.91 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 12 month low of $35.51 and a 12 month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period last year, the firm earned ($1.01) earnings per share. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $41,000. Values First Advisors Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth approximately $84,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth approximately $91,000. KBC Group NV raised its position in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing 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 3rd 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 last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRNX. Citigroup raised their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JMP Securities restated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.64.

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.