Crinetics Pharmaceuticals (NASDAQ:CRNX) CEO Richard Scott Struthers Sells 21,981 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 21,981 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $821,429.97. Following the sale, the chief executive officer directly owned 404,778 shares in the company, valued at $15,126,553.86. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $36.05 on Thursday. The firm has a 50-day moving average of $46.23 and a two-hundred day moving average of $43.93. The stock has a market cap of $3.77 billion, a P/E ratio of -7.30 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 announced its earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.During the same quarter last year, the business earned ($0.88) EPS. The business’s quarterly revenue was up NaN% compared to the same quarter last year. As a group, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after acquiring an additional 331 shares during the last quarter. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals during the second quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in Crinetics Pharmaceuticals by 523.7% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after purchasing an additional 707 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Crinetics Pharmaceuticals in the second quarter worth $45,000. Finally, Parallel Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 34.6% in the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares during the period. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRNX shares. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 12th. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Morgan Stanley lifted their price target on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Citizens Jmp cut their price target 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and an average 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.