Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $661,200.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider James Hassard sold 15,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $44.08, for a total value of $661,200.00. Following the transaction, the insider now owns 29,259 shares of the company’s stock, valued at approximately $1,289,736.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

James Hassard also recently made the following trade(s):

• On Friday, June 21st, James Hassard sold 15,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $44.66, for a total value of $669,900.00.

Crinetics Pharmaceuticals Trading Up 4.0 %

CRNX opened at $52.81 on Friday. The company has a 50 day moving average of $46.88 and a 200 day moving average of $42.68. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.76 and a 12 month high of $53.70. The company has a market cap of $4.16 billion, a PE ratio of -13.97 and a beta of 0.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, May 9th. The company reported ($0.93) 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 firm’s revenue for the quarter was down 76.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.85) EPS. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its position in Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock worth $70,725,000 after acquiring an additional 404,443 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 718.6% during the 4th quarter. Fisher Asset Management LLC now owns 440,893 shares of the company’s stock worth $15,687,000 after purchasing an additional 387,033 shares during the period. TD Asset Management Inc lifted its holdings in Crinetics Pharmaceuticals by 26.5% during the 4th quarter. TD Asset Management Inc now owns 176,426 shares of the company’s stock valued at $6,277,000 after buying an additional 37,000 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Crinetics Pharmaceuticals by 77.7% in the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after purchasing an additional 1,113,992 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Crinetics Pharmaceuticals by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after purchasing an additional 38,523 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRNX. Jonestrading boosted their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, May 14th. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their price target on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Robert W. Baird upped their price target on shares of Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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.