Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $639,256.25 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the sale, the insider now directly owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dana Pizzuti also recently made the following trade(s):

• On Wednesday, March 20th, Dana Pizzuti sold 15,089 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $44.06, for a total value of $664,821.34.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $42.97 on Friday. The stock has a market capitalization of $2.99 billion, a PE ratio of -11.61 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.76 and a 12 month high of $49.58. The business has a 50 day simple moving average of $42.42 and a 200-day simple moving average of $36.10.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.84) earnings per share. On average, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current fiscal year.

Institutional Trading of Crinetics Pharmaceuticals

Large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth approximately $36,000. China Universal Asset Management Co. Ltd. increased its position in shares of Crinetics Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after purchasing an additional 695 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth approximately $58,000. Tower Research Capital LLC TRC increased its position in shares of Crinetics Pharmaceuticals by 109.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock worth $31,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after purchasing an additional 1,912 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 19th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. Jonestrading boosted their price target on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Oppenheimer boosted their price target on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

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.