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

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

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX traded down $0.87 during trading hours on Tuesday, reaching $35.07. 1,036,154 shares of the stock were exchanged, compared to its average volume of 814,522. The stock's fifty day simple moving average is $36.16 and its 200 day simple moving average is $47.97. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -9.40 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53.

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

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Analysts Set New Price Targets

Several analysts have issued reports on CRNX shares. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday. They set a "buy" rating and a $60.00 price target for the company. JMP Securities reissued a "market outperform" rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating for the company. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Institutional Trading of Crinetics Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CRNX. Vanguard Group Inc. grew its position in shares of Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after purchasing an additional 2,801,736 shares in the last quarter. FMR LLC boosted its stake in shares of Crinetics Pharmaceuticals by 100.4% in the fourth quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after buying an additional 4,472,316 shares during the period. Wellington Management Group LLP grew its position in Crinetics Pharmaceuticals by 55.9% during the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock worth $355,382,000 after buying an additional 2,490,876 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Crinetics Pharmaceuticals by 4.3% during the 4th quarter. Driehaus Capital Management LLC now owns 6,141,014 shares of the company's stock worth $313,990,000 after acquiring an additional 255,766 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Crinetics Pharmaceuticals by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock valued at $276,844,000 after acquiring an additional 469,748 shares in the last quarter. 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.