Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) CEO Richard Scott Struthers sold 107,448 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $49.40, for a total value of $5,307,931.20. Following the completion of the transaction, the chief executive officer now owns 257,485 shares in the company, valued at $12,719,759. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Richard Scott Struthers also recently made the following trade(s):
- On Thursday, April 4th, Richard Scott Struthers sold 40,951 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $49.17, for a total transaction of $2,013,560.67.
Crinetics Pharmaceuticals Stock Performance
NASDAQ:CRNX traded down $1.42 during trading on Friday, reaching $48.00. The company's stock had a trading volume of 988,384 shares, compared to its average volume of 777,588. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.76 and a 12 month high of $51.29. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -13.26 and a beta of 0.63. The firm has a 50 day moving average of $44.46 and a 200-day moving average of $37.84.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.09). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the company posted ($0.85) EPS. Crinetics Pharmaceuticals's quarterly revenue was down 76.1% compared to the same quarter last year. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $36,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Crinetics Pharmaceuticals by 98.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company's stock valued at $42,000 after buying an additional 695 shares during the period. AJOVista LLC bought a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at $58,000. HighMark Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the 4th quarter valued at $151,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth $200,000. 98.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Jonestrading boosted their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. JMP Securities reissued a "market outperform" rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday. Citigroup assumed coverage on Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They issued a "buy" rating and a $68.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $60.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday. Finally, Robert W. Baird raised their price objective on Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $58.42.
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About Crinetics Pharmaceuticals
(
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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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