Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Sells $287,500.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.75, for a total transaction of $287,500.00. Following the completion of the transaction, the chief financial officer now owns 95,601 shares in the company, valued at approximately $2,748,528.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $30.70 on Monday. The company has a market cap of $1.68 billion, a PE ratio of -9.00 and a beta of 0.56. The company has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $21.99. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.23 and a 12 month high of $31.41.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.09). The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $5.00 million. Crinetics Pharmaceuticals had a negative return on equity of 61.19% and a negative net margin of 3,804.10%. Equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its holdings in Crinetics Pharmaceuticals by 98.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after purchasing an additional 695 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Crinetics Pharmaceuticals by 109.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after acquiring an additional 1,009 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock valued at $43,000 after acquiring an additional 1,912 shares during the period. Royal Bank of Canada boosted its holdings in shares of Crinetics Pharmaceuticals by 64.8% during the second quarter. Royal Bank of Canada now owns 5,595 shares of the company’s stock valued at $100,000 after acquiring an additional 2,201 shares during the period. Finally, Group One Trading L.P. boosted its holdings in shares of Crinetics Pharmaceuticals by 31.6% during the first quarter. Group One Trading L.P. now owns 7,318 shares of the company’s stock valued at $161,000 after acquiring an additional 1,759 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 11th. JMP Securities dropped their price target on shares of Crinetics Pharmaceuticals from $43.00 to $42.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 9th. Evercore ISI lifted their price target on shares of Crinetics Pharmaceuticals from $41.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, September 11th. Oppenheimer lifted their price target on shares of Crinetics Pharmaceuticals from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, September 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price target (down previously from $52.00) on shares of Crinetics Pharmaceuticals in a research note on Tuesday, October 24th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $45.71.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).