Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers Sells 17,338 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Trading Up 0.3 %

CRNX stock traded up $0.09 during trading on Friday, hitting $34.42. The company had a trading volume of 2,322,955 shares, compared to its average volume of 814,769. The business has a 50 day moving average of $36.34 and a 200 day moving average of $48.26. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $31.84 and a fifty-two week high of $62.53. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58.

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

Analysts Set New Price Targets

CRNX has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. Jefferies Financial Group upgraded 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. Finally, HC Wainwright reiterated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.30.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals during the fourth quarter worth $41,000. State of Wyoming bought a new position in Crinetics Pharmaceuticals in the fourth quarter valued at about $50,000. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals during the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd bought a new position in Crinetics Pharmaceuticals during the fourth quarter worth about $66,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $100,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.