Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells 14,375 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the transaction, the insider now directly owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, March 20th, Dana Pizzuti sold 15,089 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $44.06, for a total value of $664,821.34.

Crinetics Pharmaceuticals Trading Down 2.3 %

CRNX opened at $43.01 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $15.76 and a 1-year high of $49.58. The stock’s fifty day simple moving average is $42.35 and its 200 day simple moving average is $35.99. The stock has a market cap of $2.99 billion, a PE ratio of -11.62 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. During the same period in the prior year, the firm posted ($0.84) earnings per share. The company’s quarterly revenue was down 100.0% on a year-over-year basis. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at $36,000. China Universal Asset Management Co. Ltd. grew its holdings in Crinetics Pharmaceuticals by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock valued at $42,000 after buying an additional 695 shares in the last quarter. AJOVista LLC acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at $58,000. Tower Research Capital LLC TRC grew its holdings in Crinetics Pharmaceuticals by 109.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after buying an additional 1,009 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Crinetics Pharmaceuticals by 382.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock valued at $43,000 after buying an additional 1,912 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRNX shares. Jonestrading upped their price target on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group started coverage on Crinetics Pharmaceuticals in a research note on Thursday, December 21st. They set a “hold” rating and a $35.00 price objective on the stock. Robert W. Baird upped their price objective on Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Cantor Fitzgerald upped their price objective on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.17.

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.