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

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now owns 72,233 shares of the company's stock, valued at $2,470,368.60. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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

Shares of CRNX stock traded down $0.87 during trading hours on Tuesday, hitting $35.07. The stock had a trading volume of 1,036,154 shares, compared to its average volume of 814,522. The firm has a market capitalization of $3.26 billion, a PE ratio of -9.40 and a beta of 0.58. The stock's 50 day moving average is $36.16 and its 200 day moving average is $47.97. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued 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, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

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Institutional Trading of Crinetics Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in CRNX. California State Teachers Retirement System increased its stake in 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 buying an additional 12,072 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $17,117,000. Mackenzie Financial Corp raised its holdings in Crinetics Pharmaceuticals by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,422 shares of the company's stock worth $277,000 after purchasing an additional 440 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at about $100,000. Finally, Castleark Management LLC boosted its holdings in 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.

Analyst Ratings Changes

A number of equities analysts recently commented on CRNX shares. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday. They set a "buy" rating and a $60.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. JMP Securities restated a "market outperform" rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.