Richard Scott Struthers Sells 17,338 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 17,338 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX opened at $34.42 on Friday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53. The business’s 50 day simple moving average is $36.22 and its 200-day simple moving average is $48.11.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Trading of Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $41,000. State of Wyoming purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $50,000. Headlands Technologies LLC purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $52,000. Harvest Fund Management Co. Ltd purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $66,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $100,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

CRNX has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, January 22nd. Finally, TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.