Jeff E. Knight Sells 32,359 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 32,359 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.31, for a total value of $1,433,827.29. Following the transaction, the chief operating officer now owns 52,580 shares of the company’s stock, valued at $2,329,819.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $44.43 on Thursday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $15.23 and a 1-year high of $47.58. The stock has a market cap of $3.09 billion, a PE ratio of -12.01 and a beta of 0.62. The stock’s fifty day moving average is $39.56 and its two-hundred day moving average is $34.15.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. During the same period last year, the firm posted ($0.84) EPS. Crinetics Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.

Institutional Trading of Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Crinetics Pharmaceuticals by 109.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock worth $31,000 after purchasing an additional 1,009 shares in the last quarter. Quarry LP acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $36,000. China Universal Asset Management Co. Ltd. increased its position in shares of Crinetics Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after purchasing an additional 695 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after purchasing an additional 1,912 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $58,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

CRNX has been the subject of a number of recent research reports. Citigroup initiated coverage on Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They issued a “buy” rating and a $68.00 target price for the company. JMP Securities lifted their target price on Crinetics Pharmaceuticals from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, March 20th. Jonestrading lifted their target price on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group initiated coverage on Crinetics Pharmaceuticals in a report on Thursday, December 21st. They issued a “hold” rating and a $35.00 target price for the company. Finally, Cantor Fitzgerald lifted their target price on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

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.