Crinetics Pharmaceuticals (NASDAQ:CRNX) Insider Sells $209,050.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $41.81, for a total value of $209,050.00. Following the completion of the transaction, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,770,748.70. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Dana Pizzuti also recently made the following trade(s):

• On Friday, August 22nd, Dana Pizzuti sold 30,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $30.43, for a total value of $912,900.00.
• On Wednesday, August 20th, Dana Pizzuti sold 6,492 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $29.18, for a total value of $189,436.56.

Crinetics Pharmaceuticals Trading Down 1.6%

Shares of NASDAQ CRNX opened at $40.86 on Monday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -9.94 and a beta of 0.33. Crinetics Pharmaceuticals, Inc. has a one year low of $24.10 and a one year high of $62.53. The business has a fifty day simple moving average of $32.88 and a 200 day simple moving average of $31.70.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $0.52 million. During the same quarter in the previous year, the business earned ($0.94) earnings per share. Crinetics Pharmaceuticals’s revenue for the quarter was up 158.4% on a year-over-year basis. On average, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Praxis Investment Management Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at $242,000. Osaic Holdings Inc. boosted its position in shares of Crinetics Pharmaceuticals by 126.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock worth $75,000 after purchasing an additional 1,382 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the second quarter worth $30,000. Tower Research Capital LLC TRC increased its holdings in Crinetics Pharmaceuticals by 2,295.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,768 shares of the company’s stock valued at $367,000 after purchasing an additional 12,235 shares during the last quarter. Finally, Exome Asset Management LLC lifted its stake in Crinetics Pharmaceuticals by 22.2% in the second quarter. Exome Asset Management LLC now owns 62,700 shares of the company’s stock valued at $1,803,000 after buying an additional 11,405 shares during the period. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRNX shares. Leerink Partners raised their price target on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. Robert W. Baird increased their price objective on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Morgan Stanley lifted their price objective on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.45.

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.