Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Sells $1,401,145.69 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 32,129 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $43.61, for a total transaction of $1,401,145.69. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $4,844,722.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock traded down $0.53 during trading hours on Tuesday, reaching $45.54. The company had a trading volume of 1,253,879 shares, compared to its average volume of 858,840. The firm has a market cap of $3.59 billion, a PE ratio of -12.12 and a beta of 0.68. The business has a fifty day moving average price of $46.41 and a 200-day moving average price of $42.12. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $53.70.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.20 million. The company’s revenue was down 76.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.85) earnings per share. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.53 EPS for the current year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 1.6% in the third quarter. Alps Advisors Inc. now owns 40,328 shares of the company’s stock worth $1,199,000 after buying an additional 618 shares during the last quarter. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals in the first quarter worth approximately $33,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company’s stock worth $1,783,000 after buying an additional 927 shares during the last quarter. Quarry LP purchased a new position in Crinetics Pharmaceuticals during the fourth quarter valued at approximately $36,000. Finally, AJOVista LLC purchased a new position in Crinetics Pharmaceuticals during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRNX. Citigroup began coverage on shares of Crinetics Pharmaceuticals in a research report on Wednesday, March 6th. They issued a “buy” rating and a $68.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, May 14th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. Robert W. Baird raised their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.50.

Crinetics Pharmaceuticals Company Profile

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.