Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Sells $592,959.60 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Crinetics Pharmaceuticals Trading Up 0.3 %

NASDAQ:CRNX opened at $34.42 on Monday. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The business’s fifty day moving average price is $36.22 and its 200 day moving average price is $48.07.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRNX. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $41,000. State of Wyoming acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $50,000. Headlands Technologies LLC acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $52,000. Harvest Fund Management Co. Ltd acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $66,000. Finally, GF Fund Management CO. LTD. acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $100,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.30.

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.