Dana Pizzuti Sells 5,000 Shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $41.81, for a total value of $209,050.00. Following the transaction, the insider owned 66,270 shares in the company, valued at approximately $2,770,748.70. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dana Pizzuti also recently made the following trade(s):

• On Friday, August 22nd, Dana Pizzuti sold 30,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $30.43, for a total value of $912,900.00.
• On Wednesday, August 20th, Dana Pizzuti sold 6,492 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $29.18, for a total value of $189,436.56.

Crinetics Pharmaceuticals Stock Down 1.6%

NASDAQ CRNX opened at $40.86 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $62.53. The business’s fifty day simple moving average is $32.88 and its 200-day simple moving average is $31.74. The firm has a market cap of $3.85 billion, a PE ratio of -9.94 and a beta of 0.33.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The firm had revenue of $1.03 million during the quarter, compared to analyst estimates of $0.52 million. During the same quarter in the previous year, the company posted ($0.94) EPS. The firm’s revenue for the quarter was up 158.4% on a year-over-year basis. Research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Saturday, September 27th. The Goldman Sachs Group raised their price objective on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 26th. JMP Securities raised their price objective on Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. Finally, HC Wainwright reissued a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, June 27th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.45.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

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

About Crinetics Pharmaceuticals

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.