Crinetics Pharmaceuticals (NASDAQ:CRNX) Insider Isabel Kalofonos Sells 2,500 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Isabel Kalofonos sold 2,500 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.00, for a total value of $137,500.00. Following the completion of the sale, the insider owned 834 shares in the company, valued at $45,870. This represents a 74.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Crinetics Pharmaceuticals Trading Up 16.1%

Crinetics Pharmaceuticals stock traded up $7.39 during midday trading on Wednesday, reaching $53.34. 4,872,152 shares of the stock traded hands, compared to its average volume of 3,472,913. The firm has a market cap of $5.06 billion, a PE ratio of -11.77 and a beta of 0.20. The company has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $38.15. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same quarter in the previous year, the business earned ($0.96) EPS. Equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CRNX. Farther Finance Advisors LLC boosted its stake in Crinetics Pharmaceuticals by 523.7% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $35,000 after acquiring an additional 707 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at about $30,000. Covestor Ltd boosted its position in shares of Crinetics Pharmaceuticals by 23,983.3% in the 3rd quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after purchasing an additional 1,439 shares during the period. Raymond James Financial Inc. purchased a new position in Crinetics Pharmaceuticals during the 2nd quarter worth approximately $45,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals during the third quarter worth approximately $68,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on CRNX shares. The Goldman Sachs Group boosted their price target on shares of Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 26th. Oppenheimer lifted their price target on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Citizens Jmp decreased their price objective on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird lifted their price target on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $77.82.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.