Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Dana Pizzuti Sells 14,375 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 14,375 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the sale, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. 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 Wednesday, March 20th, Dana Pizzuti sold 15,089 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $44.06, for a total value of $664,821.34.

Crinetics Pharmaceuticals Stock Performance

NASDAQ CRNX opened at $44.01 on Thursday. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $49.58. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -11.89 and a beta of 0.63. The company’s 50-day simple moving average is $42.26 and its two-hundred day simple moving average is $35.95.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.84) earnings per share. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird increased their target price on Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Oppenheimer lifted their target price on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. Morgan Stanley began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, January 16th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, March 4th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

Institutional Trading of Crinetics Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CRNX. Jennison Associates LLC lifted its holdings in Crinetics Pharmaceuticals by 77.7% during the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock worth $90,647,000 after buying an additional 1,113,992 shares during the period. FMR LLC lifted its holdings in Crinetics Pharmaceuticals by 97.7% during the third quarter. FMR LLC now owns 2,140,861 shares of the company’s stock worth $63,669,000 after buying an additional 1,057,947 shares during the period. Vanguard Group Inc. lifted its holdings in Crinetics Pharmaceuticals by 24.7% during the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock worth $101,325,000 after buying an additional 674,301 shares during the period. BlackRock Inc. lifted its holdings in Crinetics Pharmaceuticals by 16.3% during the second quarter. BlackRock Inc. now owns 4,600,486 shares of the company’s stock worth $82,901,000 after buying an additional 644,128 shares during the period. Finally, Avidity Partners Management LP purchased a new stake in Crinetics Pharmaceuticals during the third quarter worth $18,141,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.