Coelho Rogerio Vivaldi Sells 5,000 Shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $36.15, for a total transaction of $180,750.00. Following the completion of the sale, the director owned 16,300 shares of the company’s stock, valued at approximately $589,245. The trade was a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Crinetics Pharmaceuticals Stock Up 2.7%

Shares of Crinetics Pharmaceuticals stock traded up $0.98 on Friday, hitting $37.49. 956,529 shares of the company were exchanged, compared to its average volume of 954,431. The company has a 50-day moving average price of $46.96 and a 200 day moving average price of $43.71. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -7.59 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.The business’s revenue was up NaN% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.88) earnings per share. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Institutional Trading of Crinetics Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in Crinetics Pharmaceuticals by 107.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after buying an additional 331 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 523.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after acquiring an additional 707 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth approximately $45,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter worth approximately $48,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Monday, January 12th. Citizens Jmp decreased their target price on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating on the stock in a report on Monday, March 2nd. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. Finally, Morgan Stanley upped their price objective on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.78.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.