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 Crinetics Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. The trade was a 7.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX traded up $0.09 during mid-day trading on Friday, reaching $34.42. 2,322,955 shares of the company’s stock were exchanged, compared to its average volume of 814,769. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53. The firm has a market capitalization of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58. The business’s fifty day simple moving average is $36.34 and its two-hundred day simple moving average is $48.26.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of research reports. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating on the stock. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. 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 report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, HC Wainwright reiterated a “buy” rating and issued 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.30.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

A number of large investors have recently bought and sold shares of CRNX. Principal Financial Group Inc. grew its stake in Crinetics Pharmaceuticals by 488.5% during the third quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock worth $3,971,000 after buying an additional 64,504 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Crinetics Pharmaceuticals during the third quarter worth about $215,000. Oppenheimer & Co. Inc. grew its stake in Crinetics Pharmaceuticals by 16.4% during the third quarter. Oppenheimer & Co. Inc. now owns 5,469 shares of the company’s stock worth $279,000 after buying an additional 770 shares in the last quarter. KBC Group NV grew its stake in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after buying an additional 407 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Crinetics Pharmaceuticals by 36.6% during the third quarter. Natixis Advisors LLC now owns 44,346 shares of the company’s stock worth $2,266,000 after buying an additional 11,870 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

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.