Dana Pizzuti Sells 5,000 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Crinetics Pharmaceuticals Stock Performance

CRNX stock opened at $38.71 on Friday. The stock’s 50 day moving average price is $47.81 and its 200 day moving average price is $51.89. The firm has a market cap of $3.59 billion, a P/E ratio of -10.38 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 1 year low of $35.51 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the firm posted ($1.01) earnings per share. On average, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

CRNX has been the subject of a number of recent analyst reports. Citigroup raised their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday. They set a “peer perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.64.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several hedge funds have recently modified their holdings of CRNX. Venturi Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at approximately $41,000. Values First Advisors Inc. purchased a new stake in Crinetics Pharmaceuticals in the 3rd quarter worth approximately $84,000. Allspring Global Investments Holdings LLC acquired a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at $91,000. KBC Group NV lifted its stake in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock worth $143,000 after purchasing an additional 1,008 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

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.