Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson Sells 25,000 Shares

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 25,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marc Wilson also recently made the following trade(s):

• On Thursday, July 25th, Marc Wilson sold 19,056 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $53.88, for a total value of $1,026,737.28.
• On Monday, July 15th, Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00.

Crinetics Pharmaceuticals Price Performance

CRNX stock opened at $51.10 on Tuesday. The business’s fifty day moving average price is $52.03 and its two-hundred day moving average price is $48.45. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -13.52 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.47 million. During the same period in the prior year, the company earned ($0.94) earnings per share. The firm’s revenue for the quarter was down 59.6% on a year-over-year basis. Research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. Oppenheimer reissued an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.55.

Institutional Trading of Crinetics Pharmaceuticals

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock worth $319,000 after buying an additional 227 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after acquiring an additional 464 shares during the last quarter. Comerica Bank bought a new position in shares of Crinetics Pharmaceuticals in the first quarter worth about $33,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Crinetics Pharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company’s stock valued at $1,783,000 after purchasing an additional 927 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds 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.