Jeff E. Knight Sells 7,162 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 7,162 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the sale, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at $2,992,192.20. The trade was a 7.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $34.42 on Friday. The company has a 50-day moving average of $36.22 and a 200 day moving average of $48.11. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

CRNX has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. Finally, Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $74.30.

Institutional Trading of Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $41,000. State of Wyoming bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $50,000. Headlands Technologies LLC bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $52,000. Harvest Fund Management Co. Ltd bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $66,000. Finally, GF Fund Management CO. LTD. bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $100,000. 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.