Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Insider Sells $661,200.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Free Report) insider James Hassard sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.08, for a total value of $661,200.00. Following the sale, the insider now directly owns 29,259 shares of the company’s stock, valued at $1,289,736.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

James Hassard also recently made the following trade(s):

  • On Friday, June 21st, James Hassard sold 15,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $44.66, for a total value of $669,900.00.

Crinetics Pharmaceuticals Trading Up 6.3 %

Shares of NASDAQ:CRNX traded up $2.86 on Tuesday, reaching $48.23. The company had a trading volume of 723,879 shares, compared to its average volume of 848,655. The firm has a market capitalization of $3.80 billion, a PE ratio of -12.63 and a beta of 0.68. Crinetics Pharmaceuticals, Inc. has a 52-week low of $15.76 and a 52-week high of $53.70. The firm’s 50 day simple moving average is $46.55 and its 200-day simple moving average is $42.47.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The business had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.20 million. Crinetics Pharmaceuticals’s revenue was down 76.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.85) EPS. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Artal Group S.A. acquired a new stake in Crinetics Pharmaceuticals in the first quarter valued at approximately $65,088,000. Comerica Bank purchased a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at $33,000. California State Teachers Retirement System boosted its position in shares of Crinetics Pharmaceuticals by 11.1% in the 1st quarter. California State Teachers Retirement System now owns 64,292 shares of the company’s stock worth $3,010,000 after purchasing an additional 6,421 shares in the last quarter. AWM Investment Company Inc. grew its stake in Crinetics Pharmaceuticals by 10.0% during the 1st quarter. AWM Investment Company Inc. now owns 55,000 shares of the company’s stock worth $2,575,000 after buying an additional 5,000 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Crinetics Pharmaceuticals by 264.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after buying an additional 1,434,909 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of recent analyst reports. Jonestrading boosted their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Tuesday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, June 28th. Finally, Morgan Stanley raised their price objective on Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Get Our Latest Report on CRNX

Crinetics Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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