Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight Sells 7,162 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 7,162 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares of the company’s stock, valued at approximately $2,992,192.20. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $34.42 on Friday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. The company’s 50 day simple moving average is $36.22 and its 200 day simple moving average is $48.13. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in Crinetics Pharmaceuticals during the fourth quarter worth approximately $41,000. State of Wyoming purchased a new position in Crinetics Pharmaceuticals during the fourth quarter worth approximately $50,000. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals during the fourth quarter worth approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in Crinetics Pharmaceuticals during the fourth quarter worth approximately $66,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at $100,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

CRNX has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. 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. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 price target 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Crinetics Pharmaceuticals currently 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.