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

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX traded down $1.10 during trading on Wednesday, hitting $39.30. The company had a trading volume of 614,538 shares, compared to its average volume of 1,100,311. Crinetics Pharmaceuticals, Inc. has a 52 week low of $35.51 and a 52 week high of $62.53. The business’s 50-day moving average is $48.56 and its 200 day moving average is $52.07. The company has a market cap of $3.64 billion, a P/E ratio of -10.54 and a beta of 0.56.

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 analysts’ consensus estimates of ($0.91) by ($0.05). During the same period in the previous year, the company posted ($1.01) EPS. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after purchasing an additional 529,483 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after purchasing an additional 528,688 shares in the last quarter. FMR LLC boosted its position in Crinetics Pharmaceuticals by 8.8% in the third quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after buying an additional 358,975 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth about $10,476,000. Finally, Geode Capital Management LLC lifted its holdings in Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after buying an additional 169,746 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CRNX shares. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Citigroup raised their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research began coverage on Crinetics Pharmaceuticals in a report on Tuesday. They issued a “peer perform” rating for the company. Finally, Jefferies Financial Group raised 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 note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.64.

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.