Insider Selling: Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Sells $1,026,737.28 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 19,056 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.88, for a total value of $1,026,737.28. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,985,636.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Marc Wilson also recently made the following trade(s):

• On Monday, July 15th, Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $55.00, for a total transaction of $1,375,000.00.
• On Friday, June 28th, Marc Wilson sold 32,129 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $43.61, for a total transaction of $1,401,145.69.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $54.36 on Monday. The business’s fifty day moving average price is $47.88 and its two-hundred day moving average price is $44.16. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -14.38 and a beta of 0.68. Crinetics Pharmaceuticals, Inc. has a 52 week low of $15.76 and a 52 week high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The company had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.20 million. The firm’s revenue was down 76.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.85) EPS. As a group, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Crinetics Pharmaceuticals in a research report on Tuesday, May 14th. Oppenheimer lifted their target price on shares of Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, June 4th. Piper Sandler reissued an “overweight” rating and issued a $97.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, June 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CRNX. Vanguard Group Inc. lifted its stake in shares of Crinetics Pharmaceuticals by 24.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after purchasing an additional 674,301 shares during the period. HighMark Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth about $151,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 450.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,721 shares of the company’s stock valued at $275,000 after acquiring an additional 6,318 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crinetics Pharmaceuticals by 6.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,218 shares of the company’s stock valued at $1,395,000 after acquiring an additional 2,343 shares during the period. Finally, abrdn plc bought a new position in Crinetics Pharmaceuticals during the 4th quarter worth approximately $3,601,000. 98.51% of the stock is 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.