Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Sells $180,750.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total value of $180,750.00. Following the sale, the director owned 16,300 shares in the company, valued at $589,245. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Crinetics Pharmaceuticals Trading Up 2.7%

Shares of NASDAQ CRNX opened at $37.49 on Monday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $57.99. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -7.59 and a beta of 0.23. The stock’s 50 day simple moving average is $46.96 and its 200 day simple moving average is $43.89.

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

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC grew its position in Crinetics Pharmaceuticals by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock valued at $3,071,000 after buying an additional 313 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after buying an additional 315 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Crinetics Pharmaceuticals by 5.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,952 shares of the company’s stock worth $248,000 after acquiring an additional 327 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 107.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after acquiring an additional 331 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Crinetics Pharmaceuticals by 6.3% in the fourth quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock valued at $280,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of analyst reports. The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. Citizens Jmp dropped their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating on the stock in a research note on Monday, March 2nd. Morgan Stanley lifted their price target on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Finally, Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $74.78.

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.