Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Dana Pizzuti Sells 2,515 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 3rd, Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00.

Crinetics Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ:CRNX traded up $0.09 during midday trading on Friday, hitting $34.42. 2,322,955 shares of the stock were exchanged, compared to its average volume of 814,769. The stock has a market cap of $3.20 billion, a P/E ratio of -9.23 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53. The company has a 50 day moving average price of $36.34 and a 200-day moving average price of $48.26.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Crinetics Pharmaceuticals by 18.8% in the 4th quarter. California State Teachers Retirement System now owns 76,264 shares of the company’s stock valued at $3,899,000 after purchasing an additional 12,072 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $17,117,000. Mackenzie Financial Corp raised its stake in Crinetics Pharmaceuticals by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock valued at $277,000 after purchasing an additional 440 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $100,000. Finally, Castleark Management LLC raised its stake in Crinetics Pharmaceuticals by 6.1% in the 4th quarter. Castleark Management LLC now owns 77,780 shares of the company’s stock valued at $3,977,000 after purchasing an additional 4,440 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating on the stock. One equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $74.30.

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.