Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Sells $28,316.52 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. The trade was a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $57.67 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $30.87 and a 1 year high of $62.53. The stock’s fifty day moving average price is $55.58 and its two-hundred day moving average price is $51.75.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the previous year, the company posted ($1.01) earnings per share. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRNX. Vanguard Group Inc. boosted its position in shares of Crinetics Pharmaceuticals by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after acquiring an additional 72,624 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after acquiring an additional 814,360 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Crinetics Pharmaceuticals in the first quarter worth $499,000. Janus Henderson Group PLC raised its position in Crinetics Pharmaceuticals by 264.1% during the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after purchasing an additional 1,434,909 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Crinetics Pharmaceuticals by 11.1% during the first quarter. California State Teachers Retirement System now owns 64,292 shares of the company’s stock worth $3,010,000 after purchasing an additional 6,421 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Citigroup increased their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.18.

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.