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 the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the transaction, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, October 1st, Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $41.81, for a total value of $209,050.00.
• On Friday, August 22nd, Dana Pizzuti sold 30,000 shares of Crinetics Pharmaceuticals stock. The shares were 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 Performance

Shares of NASDAQ CRNX opened at $43.49 on Friday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53. The business has a fifty day moving average of $39.43 and a two-hundred day moving average of $33.77. The stock has a market cap of $4.10 billion, a PE ratio of -10.58 and a beta of 0.25.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.39 million. During the same quarter last year, the firm posted ($0.96) earnings per share. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CRNX shares. JMP Securities lifted their target price on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. dropped their price target on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Morgan Stanley lifted their price objective on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Robert W. Baird increased their target price on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.45.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth approximately $68,000. Oppenheimer & Co. Inc. bought a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $216,000. Oppenheimer Asset Management Inc. acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth $221,000. Candriam S.C.A. raised its position in shares of Crinetics Pharmaceuticals by 7.4% during the 3rd quarter. Candriam S.C.A. now owns 745,094 shares of the company’s stock valued at $31,033,000 after acquiring an additional 51,225 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Crinetics Pharmaceuticals by 1,165.3% during the 3rd quarter. Bessemer Group Inc. now owns 3,100 shares of the company’s stock valued at $129,000 after acquiring an additional 2,855 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.