Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $639,256.25 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) insider Dana Pizzuti sold 14,375 shares of the company's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the completion of the sale, the insider now owns 27,786 shares in the company, valued at $1,235,643.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, March 20th, Dana Pizzuti sold 15,089 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $44.06, for a total value of $664,821.34.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX traded up $0.52 during trading on Wednesday, reaching $44.01. 507,335 shares of the stock were exchanged, compared to its average volume of 787,089. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -11.89 and a beta of 0.63. The stock has a fifty day moving average of $42.13 and a two-hundred day moving average of $35.89. Crinetics Pharmaceuticals, Inc. has a 1-year low of $15.76 and a 1-year high of $49.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company's quarterly revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.84) earnings per share. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its position in Crinetics Pharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company's stock valued at $1,783,000 after buying an additional 927 shares during the last quarter. Vanguard Group Inc. raised its position in Crinetics Pharmaceuticals by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,502,452 shares of the company's stock valued at $124,617,000 after buying an additional 95,417 shares during the last quarter. Fisher Asset Management LLC raised its position in Crinetics Pharmaceuticals by 719.3% in the 4th 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 last quarter. Goldman Sachs Group Inc. raised its position in Crinetics Pharmaceuticals by 17.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 650,173 shares of the company's stock valued at $23,133,000 after buying an additional 97,575 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Crinetics Pharmaceuticals by 15.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,603 shares of the company's stock valued at $1,445,000 after purchasing an additional 5,386 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRNX shares. Morgan Stanley started coverage on Crinetics Pharmaceuticals in a report on Tuesday, January 16th. They set an "overweight" rating and a $50.00 price target on the stock. Citigroup started coverage on Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They set a "buy" rating and a $68.00 price target on the stock. Cantor Fitzgerald increased their price target on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, March 4th. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 19th. Finally, JMP Securities restated a "market outperform" rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.17.

About Crinetics Pharmaceuticals

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.

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