Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $86,013.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 2,515 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now owns 72,233 shares of the company’s stock, valued at $2,470,368.60. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 3rd, Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $39.07, for a total value of $195,350.00.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $34.42 on Monday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. The stock has a 50 day simple moving average of $36.22 and a 200-day simple moving average of $48.07.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. Analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRNX. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, January 22nd. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.30.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRNX. Venturi Wealth Management LLC purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter worth approximately $41,000. State of Wyoming acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter worth approximately $50,000. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth approximately $52,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth approximately $66,000. Finally, GF Fund Management CO. LTD. acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at $100,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Company Profile

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.