Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Dana Pizzuti Sells 5,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Crinetics Pharmaceuticals Stock Down 1.5 %

Shares of NASDAQ:CRNX opened at $38.71 on Friday. The company has a 50 day moving average of $47.81 and a two-hundred day moving average of $51.89. Crinetics Pharmaceuticals, Inc. has a 52-week low of $35.51 and a 52-week high of $62.53. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -10.38 and a beta of 0.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter last year, the business earned ($1.01) EPS. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday. They set a “peer perform” rating for the company. Citigroup boosted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JMP Securities restated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Finally, Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $72.64.

Institutional Trading of Crinetics Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in Crinetics Pharmaceuticals by 75.5% in the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after purchasing an additional 528,688 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after buying an additional 169,746 shares during the last quarter. Jennison Associates LLC grew its position in shares of Crinetics Pharmaceuticals by 0.5% during the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock worth $142,754,000 after buying an additional 13,470 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 8.4% in the third quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock worth $24,635,000 after buying an additional 37,429 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.