Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Sells 25,000 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Marc Wilson also recently made the following trade(s):

• On Thursday, July 25th, Marc Wilson sold 19,056 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $53.88, for a total value of $1,026,737.28.
• On Monday, July 15th, Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00.

Crinetics Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ CRNX traded up $0.35 during midday trading on Monday, hitting $51.10. 490,850 shares of the company’s stock were exchanged, compared to its average volume of 783,551. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -13.43 and a beta of 0.63. The business’s fifty day moving average price is $52.08 and its two-hundred day moving average price is $48.36. Crinetics Pharmaceuticals, Inc. has a 12-month low of $25.35 and a 12-month high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the prior year, the firm earned ($0.94) EPS. Crinetics Pharmaceuticals’s revenue was down 59.6% on a year-over-year basis. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $97.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, HC Wainwright lifted their target price on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank purchased a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the second quarter valued at approximately $42,000. Quarry LP purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at approximately $36,000. Amalgamated Bank boosted its stake in shares of Crinetics Pharmaceuticals by 20.8% during the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after purchasing an additional 464 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $200,000. 98.51% of the stock is currently owned by institutional investors.

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.