Richard Scott Struthers Sells 4,000 Shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 4,000 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the completion of the transaction, the chief executive officer directly owned 106,000 shares of the company’s stock, valued at $4,770,000. This represents a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Crinetics Pharmaceuticals Stock Down 0.1%

CRNX stock opened at $41.61 on Thursday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $62.53. The firm has a market cap of $3.92 billion, a PE ratio of -10.12 and a beta of 0.32. The business has a 50 day moving average of $32.47 and a 200 day moving average of $31.65.

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

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, June 27th. Oppenheimer raised their price objective on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 26th. JMP Securities increased their target price on Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a research note on Friday, September 26th. Finally, Leerink Partners increased their target price on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.45.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CRNX. Headlands Technologies LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth $30,000. Raymond James Financial Inc. purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth $45,000. Penserra Capital Management LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth $48,000. Osaic Holdings Inc. boosted its stake 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 buying an additional 1,382 shares during the last quarter. Finally, GF Fund Management CO. LTD. boosted its stake in shares of Crinetics Pharmaceuticals by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,375 shares of the company’s stock worth $80,000 after buying an additional 428 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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.