Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight Sells 501 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares in the company, valued at $2,919,427.56. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crinetics Pharmaceuticals Stock Up 1.2 %

NASDAQ:CRNX traded up $0.68 on Tuesday, hitting $56.77. The stock had a trading volume of 367,633 shares, compared to its average volume of 781,175. The business’s 50-day simple moving average is $55.40 and its two-hundred day simple moving average is $51.64. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of -15.07 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 52-week low of $30.87 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period last year, the firm posted ($1.01) EPS. As a group, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Crinetics Pharmaceuticals by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock worth $167,349,000 after acquiring an additional 72,624 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Crinetics Pharmaceuticals by 27.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after buying an additional 814,360 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at about $499,000. Janus Henderson Group PLC boosted its stake in shares of Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock worth $92,526,000 after acquiring an additional 1,434,909 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Crinetics Pharmaceuticals by 11.1% in the first quarter. California State Teachers Retirement System now owns 64,292 shares of the company’s stock worth $3,010,000 after acquiring an additional 6,421 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRNX. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Citigroup upped their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. HC Wainwright upped their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

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.