Crinetics Pharmaceuticals (NASDAQ:CRNX) Insider Dana Pizzuti Sells 30,000 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 30,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.43, for a total value of $912,900.00. Following the sale, the insider directly owned 66,270 shares of the company’s stock, valued at $2,016,596.10. This represents a 31.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 Trading Up 2.8%

Crinetics Pharmaceuticals stock opened at $30.93 on Wednesday. The firm has a market capitalization of $2.91 billion, a P/E ratio of -7.53 and a beta of 0.33. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $62.53. The business has a 50-day moving average of $30.00 and a 200-day moving average of $31.52.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, August 7th. The company reported ($1.23) earnings per share (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 the consensus estimate of $0.52 million. The company’s revenue for the quarter was up 158.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.94) EPS. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRNX. Farallon Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 250.7% in the 4th quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company’s stock worth $208,360,000 after purchasing an additional 2,913,098 shares during the period. Vestal Point Capital LP acquired a new position in Crinetics Pharmaceuticals during the 1st quarter worth approximately $50,310,000. Nuveen LLC acquired a new position in Crinetics Pharmaceuticals during the 1st quarter worth approximately $18,881,000. Candriam S.C.A. acquired a new position in Crinetics Pharmaceuticals during the 1st quarter worth approximately $16,398,000. Finally, Point72 Asset Management L.P. boosted its position in Crinetics Pharmaceuticals by 21.2% during the 4th quarter. Point72 Asset Management L.P. now owns 2,788,939 shares of the company’s stock worth $142,598,000 after acquiring an additional 488,296 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRNX shares. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, June 27th. JMP Securities decreased their target price on Crinetics Pharmaceuticals from $90.00 to $86.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Finally, The Goldman Sachs Group assumed coverage on Crinetics Pharmaceuticals in a research report on Thursday, July 10th. They set a “neutral” rating and a $36.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.86.

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.