Stephanie Okey Sells 17,500 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) Director Stephanie Okey sold 17,500 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $46.38, for a total value of $811,650.00. Following the sale, the director now owns 6,000 shares of the company's stock, valued at approximately $278,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock traded down $0.53 during trading hours on Tuesday, reaching $46.00. The company had a trading volume of 858,683 shares, compared to its average volume of 767,048. Crinetics Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $47.62. The company has a 50-day moving average price of $40.36 and a 200 day moving average price of $34.69. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -12.43 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. Crinetics Pharmaceuticals's revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.84) earnings per share. As a group, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRNX. Jefferies Financial Group started coverage on shares of Crinetics Pharmaceuticals in a research note on Thursday, December 21st. They set a "hold" rating and a $35.00 price target for the company. Morgan Stanley started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They issued an "overweight" rating and a $50.00 target price for the company. Citigroup began coverage on Crinetics Pharmaceuticals in a research report on Wednesday, March 6th. They set a "buy" rating and a $68.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 19th. Finally, Jonestrading raised their price target on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.17.

Institutional Trading of Crinetics Pharmaceuticals

A number of institutional investors have recently modified their holdings of CRNX. Vanguard Group Inc. increased its holdings in Crinetics Pharmaceuticals by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,502,452 shares of the company's stock valued at $124,617,000 after purchasing an additional 95,417 shares during the period. Fisher Asset Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 719.3% during the fourth quarter. Fisher Asset Management LLC now owns 441,295 shares of the company's stock valued at $15,701,000 after buying an additional 387,435 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 17.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 650,173 shares of the company's stock valued at $23,133,000 after acquiring an additional 97,575 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Crinetics Pharmaceuticals by 15.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,603 shares of the company's stock worth $1,445,000 after acquiring an additional 5,386 shares during the period. Finally, Eventide Asset Management LLC boosted its holdings in Crinetics Pharmaceuticals by 4.0% in the fourth quarter. Eventide Asset Management LLC now owns 1,059,633 shares of the company's stock valued at $37,702,000 after acquiring an additional 40,851 shares in 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.