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 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 transaction, the insider now 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 filing with the SEC, which is available at this hyperlink.

Crinetics Pharmaceuticals Stock Down 2.7 %

Shares of CRNX stock opened at $39.30 on Thursday. The firm has a 50 day moving average price of $48.19 and a two-hundred day moving average price of $51.98. The company has a market capitalization of $3.64 billion, a PE ratio of -10.54 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 12-month low of $35.51 and a 12-month 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 period in the previous year, the business posted ($1.01) EPS. As a group, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Crinetics Pharmaceuticals by 8.8% during the third quarter. FMR LLC now owns 4,455,770 shares of the company’s stock worth $227,690,000 after purchasing an additional 358,975 shares during the period. State Street Corp increased its holdings in shares of Crinetics Pharmaceuticals by 0.9% during the third quarter. State Street Corp now owns 2,838,484 shares of the company’s stock worth $145,047,000 after purchasing an additional 25,561 shares during the period. Jennison Associates LLC increased its stake in Crinetics Pharmaceuticals by 0.5% in the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock valued at $142,754,000 after acquiring an additional 13,470 shares during the last quarter. Geode Capital Management LLC increased its stake in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after acquiring an additional 169,746 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after acquiring an additional 528,688 shares during the last quarter. 98.51% of the stock is 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.