Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson Sells 32,129 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 32,129 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $43.61, for a total value of $1,401,145.69. Following the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $4,844,722.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $45.54 on Wednesday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -12.05 and a beta of 0.68. Crinetics Pharmaceuticals, Inc. has a 52 week low of $15.76 and a 52 week high of $53.70. The firm’s 50-day simple moving average is $46.43 and its two-hundred day simple moving average is $42.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the business earned ($0.85) earnings per share. The company’s revenue for the quarter was down 76.1% compared to the same quarter last year. Analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CRNX. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, June 28th. Jonestrading lifted their price target on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Oppenheimer increased their price objective on Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Citigroup initiated coverage on Crinetics Pharmaceuticals in a research report on Wednesday, March 6th. They set a “buy” rating and a $68.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Institutional Trading of Crinetics Pharmaceuticals

Several hedge funds have recently made changes to their positions in CRNX. Alps Advisors Inc. increased its holdings in Crinetics Pharmaceuticals by 1.6% in the 3rd quarter. Alps Advisors Inc. now owns 40,328 shares of the company’s stock worth $1,199,000 after acquiring an additional 618 shares during the last quarter. Comerica Bank bought a new position in Crinetics Pharmaceuticals during the first quarter worth about $33,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Crinetics Pharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company’s stock worth $1,783,000 after purchasing an additional 927 shares in the last quarter. Quarry LP bought a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $36,000. Finally, AJOVista LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the 4th quarter valued at approximately $58,000. 98.51% of the stock is currently owned by institutional investors.

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.