Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Stephanie Okey Sells 3,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Stephanie Okey sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $39.67, for a total value of $119,010.00. Following the sale, the director directly owned 13,300 shares in the company, valued at $527,611. This represents a 18.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Crinetics Pharmaceuticals Stock Down 2.6%

Shares of NASDAQ:CRNX traded down $1.04 during trading on Thursday, reaching $38.47. 395,958 shares of the company traded hands, compared to its average volume of 1,266,245. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $57.99. The firm has a market capitalization of $4.03 billion, a PE ratio of -7.79 and a beta of 0.23. The company’s 50 day moving average is $48.31 and its two-hundred day moving average is $43.42.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. During the same quarter in the prior year, the firm posted ($0.88) earnings per share. The business’s revenue was up NaN% on a year-over-year basis. As a group, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRNX shares. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Citizens Jmp dropped their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research note on Monday. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. Morgan Stanley raised their target price on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.78.

Institutional Trading of Crinetics Pharmaceuticals

Several large investors have recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 76.8% in the fourth quarter. Invesco Ltd. now owns 158,089 shares of the company’s stock worth $7,359,000 after purchasing an additional 68,696 shares in the last quarter. ADAR1 Capital Management LLC boosted its holdings in Crinetics Pharmaceuticals by 24.6% in the 4th quarter. ADAR1 Capital Management LLC now owns 309,368 shares of the company’s stock worth $14,401,000 after buying an additional 61,000 shares during the period. Virtus Investment Advisers LLC increased its stake in Crinetics Pharmaceuticals by 282.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 13,535 shares of the company’s stock worth $630,000 after buying an additional 9,998 shares in the last quarter. Progeny 3 Inc. bought a new stake in Crinetics Pharmaceuticals during the fourth quarter valued at about $1,117,000. Finally, RTW Investments LP grew its position in shares of Crinetics Pharmaceuticals by 54.9% during the fourth quarter. RTW Investments LP now owns 1,351,326 shares of the company’s stock worth $62,904,000 after purchasing an additional 478,939 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

About Crinetics Pharmaceuticals

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.