Crinetics Pharmaceuticals (NASDAQ:CRNX) Sets New 12-Month Low - What's Next?

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $35.01 and last traded at $34.96, with a volume of 88227 shares. The stock had previously closed at $36.53.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Cowen began coverage on Crinetics Pharmaceuticals in a research note on Tuesday. They issued a "buy" rating for the company. JMP Securities reissued a "market outperform" rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Citigroup raised their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. HC Wainwright reissued a "buy" rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, Wolfe Research began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a "peer perform" rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.64.

Crinetics Pharmaceuticals Trading Down 0.1 %

The firm has a 50 day moving average price of $45.20 and a 200-day moving average price of $51.13. The firm has a market cap of $3.27 billion, a PE ratio of -9.44 and a beta of 0.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the firm posted ($1.01) earnings per share. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Dana Pizzuti sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRNX. Barclays PLC increased its holdings in shares of Crinetics Pharmaceuticals by 75.5% in the third quarter. Barclays PLC now owns 207,712 shares of the company's stock valued at $10,614,000 after purchasing an additional 89,358 shares during the period. Franklin Resources Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock valued at $73,815,000 after purchasing an additional 528,688 shares during the period. Geode Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock valued at $94,458,000 after purchasing an additional 169,746 shares during the period. SG Americas Securities LLC increased its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% in the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock valued at $27,735,000 after purchasing an additional 529,483 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Crinetics Pharmaceuticals by 0.5% in the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock valued at $142,754,000 after purchasing an additional 13,470 shares during the period. 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.