Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Sells $811,650.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Stephanie Okey sold 17,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $46.38, for a total transaction of $811,650.00. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at $278,280. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $46.65 on Friday. Crinetics Pharmaceuticals, Inc. has a one year low of $15.50 and a one year high of $49.58. The company has a market cap of $3.25 billion, a PE ratio of -12.61 and a beta of 0.63. The business has a 50-day simple moving average of $40.76 and a 200-day simple moving average of $34.86.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced 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 return on equity of 52.93% and a negative net margin of 4,223.27%. During the same period last year, the company earned ($0.84) EPS. The firm’s revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CRNX shares. Jefferies Financial Group started coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, December 21st. They issued a “hold” rating and a $35.00 price objective on the stock. Citigroup began coverage on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They issued a “buy” rating and a $68.00 price objective on the stock. Oppenheimer boosted their price target on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Robert W. Baird boosted their price target on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Cantor Fitzgerald boosted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Crinetics Pharmaceuticals by 31.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 461,303 shares of the company’s stock valued at $13,719,000 after purchasing an additional 110,565 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Crinetics Pharmaceuticals by 196.0% in the third quarter. Campbell & CO Investment Adviser LLC now owns 63,917 shares of the company’s stock valued at $1,901,000 after purchasing an additional 42,323 shares in the last quarter. Vivo Capital LLC acquired a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $10,409,000. Victory Capital Management Inc. acquired a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $1,338,000. Finally, Swiss National Bank boosted its holdings in Crinetics Pharmaceuticals by 41.6% in the third quarter. Swiss National Bank now owns 116,400 shares of the company’s stock valued at $3,462,000 after purchasing an additional 34,200 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

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.