By otakuyassine3@gmail.com 
Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Crinetics Pharmaceuticals Trading Up 0.3 %
Shares of CRNX stock opened at $34.42 on Monday. The stock has a 50 day moving average of $36.22 and a two-hundred day moving average of $48.07. Crinetics Pharmaceuticals, Inc. has a 12 month low of $31.84 and a 12 month high of $62.53. The company has a market capitalization of $3.20 billion, a P/E ratio of -9.23 and a beta of 0.58.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. Sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CRNX. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. Finally, Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $74.30.
Read Our Latest Stock Analysis on CRNX
Hedge Funds Weigh In On Crinetics Pharmaceuticals
Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Crinetics Pharmaceuticals by 18.8% during the 4th quarter. California State Teachers Retirement System now owns 76,264 shares of the company’s stock worth $3,899,000 after buying an additional 12,072 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $17,117,000. Mackenzie Financial Corp lifted its position in shares of Crinetics Pharmaceuticals by 8.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock worth $277,000 after buying an additional 440 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $100,000. Finally, Castleark Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 6.1% during the 4th quarter. Castleark Management LLC now owns 77,780 shares of the company’s stock worth $3,977,000 after buying an additional 4,440 shares during the period. 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.
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