Crinetics Pharmaceuticals (NASDAQ:CRNX) CEO Richard Scott Struthers Sells 4,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 4,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief executive officer owned 106,000 shares in the company, valued at approximately $4,770,000. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Crinetics Pharmaceuticals Stock Down 4.3%

Shares of NASDAQ:CRNX opened at $41.65 on Wednesday. The company has a market cap of $3.92 billion, a PE ratio of -10.13 and a beta of 0.28. The company’s 50-day moving average price is $32.25 and its 200 day moving average price is $31.58. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The company had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $0.52 million. The firm’s revenue was up 158.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.94) EPS. As a group, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of CRNX. Headlands Technologies LLC bought a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at $30,000. Raymond James Financial Inc. bought a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth about $45,000. Penserra Capital Management LLC bought a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth about $48,000. Osaic Holdings Inc. grew its holdings in Crinetics Pharmaceuticals by 126.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock worth $75,000 after acquiring an additional 1,382 shares during the last quarter. Finally, GF Fund Management CO. LTD. grew its holdings in Crinetics Pharmaceuticals by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,375 shares of the company’s stock worth $80,000 after acquiring an additional 428 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday. Leerink Partners boosted their price target on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday. JMP Securities boosted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. The Goldman Sachs Group lifted their price objective 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. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, June 27th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.45.

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.