Dana Pizzuti Sells 2,515 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 2,515 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the transaction, the insider now directly owns 72,233 shares of the company’s stock, valued at approximately $2,470,368.60. This represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dana Pizzuti also recently made the following trade(s):

• On Monday, February 3rd, Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX traded up $0.09 on Friday, reaching $34.42. The company had a trading volume of 2,322,955 shares, compared to its average volume of 814,769. The firm has a market capitalization of $3.20 billion, a PE 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 firm has a 50-day moving average of $36.34 and a 200-day moving average of $48.26.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in shares of Crinetics Pharmaceuticals by 18.8% in the 4th quarter. California State Teachers Retirement System now owns 76,264 shares of the company’s stock valued at $3,899,000 after purchasing an additional 12,072 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $17,117,000. Mackenzie Financial Corp raised its position in shares of Crinetics Pharmaceuticals by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock valued at $277,000 after purchasing an additional 440 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $100,000. Finally, Castleark Management LLC raised its position in shares of Crinetics Pharmaceuticals by 6.1% in the 4th quarter. Castleark Management LLC now owns 77,780 shares of the company’s stock valued at $3,977,000 after purchasing an additional 4,440 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRNX has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating for the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.