Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Dana Pizzuti Sells 9,500 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $45.73, for a total transaction of $434,435.00. Following the completion of the sale, the insider now directly owns 27,786 shares of the company’s stock, valued at $1,270,653.78. The transaction 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, April 15th, Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $42.19 on Thursday. The company’s fifty day moving average is $46.31 and its two-hundred day moving average is $41.84. Crinetics Pharmaceuticals, Inc. has a 52-week low of $15.76 and a 52-week high of $53.70. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -11.16 and a beta of 0.64.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, May 9th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.20 million. Crinetics Pharmaceuticals had a negative return on equity of 42.50% and a negative net margin of 4,223.27%. The firm’s quarterly revenue was down 76.1% compared to the same quarter last year. During the same period last year, the business earned ($0.85) earnings per share. As a group, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CRNX. Oppenheimer raised their target price on Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, May 14th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. Jonestrading boosted their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley raised their target price on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors have recently modified their holdings of CRNX. Charles Schwab Investment Management Inc. raised its stake in shares of 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. Deutsche Bank AG raised its stake in shares of Crinetics Pharmaceuticals by 30.9% in the 3rd quarter. Deutsche Bank AG now owns 30,210 shares of the company’s stock valued at $898,000 after buying an additional 7,125 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Crinetics Pharmaceuticals by 18.2% in the 3rd quarter. Rhumbline Advisers now owns 106,554 shares of the company’s stock valued at $3,169,000 after buying an additional 16,400 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $221,000. Finally, FMR LLC boosted its position in shares of Crinetics Pharmaceuticals by 97.7% during the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock valued at $63,669,000 after acquiring an additional 1,057,947 shares in the last quarter. 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.