Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $664,821.34 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 15,089 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $44.06, for a total value of $664,821.34. Following the completion of the transaction, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,224,251.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, January 3rd, Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $35.00, for a total value of $503,125.00.

Crinetics Pharmaceuticals Trading Down 1.5 %

Shares of NASDAQ CRNX traded down $0.68 during mid-day trading on Friday, hitting $44.29. The company had a trading volume of 599,537 shares, compared to its average volume of 753,427. Crinetics Pharmaceuticals, Inc. has a one year low of $15.23 and a one year high of $47.58. The company has a market capitalization of $3.08 billion, a PE ratio of -12.15 and a beta of 0.62. The firm has a 50-day simple moving average of $39.02 and a two-hundred day simple moving average of $33.27.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate 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%. During the same period last year, the business earned ($0.84) earnings per share. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in shares of Crinetics Pharmaceuticals by 109.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after purchasing an additional 1,009 shares during the last quarter. Quarry LP purchased a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $36,000. China Universal Asset Management Co. Ltd. boosted its position in Crinetics Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after purchasing an additional 695 shares during the period. Osaic Holdings Inc. boosted its position in Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after purchasing an additional 1,912 shares during the period. Finally, AJOVista LLC bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, January 16th. They set an “overweight” rating and a $50.00 price target on the stock. Robert W. Baird increased their price target on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Jonestrading raised their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group began coverage on Crinetics Pharmaceuticals in a research report on Thursday, December 21st. They set a “hold” rating and a $35.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).