Stephanie Okey Sells 3,000 Shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Stephanie Okey sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $39.67, for a total value of $119,010.00. Following the completion of the sale, the director directly owned 13,300 shares in the company, valued at $527,611. This trade represents a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $38.90 on Friday. The business has a fifty day moving average price of $48.12 and a 200-day moving average price of $43.39. The company has a market capitalization of $4.07 billion, a PE ratio of -7.87 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. The firm’s revenue was up NaN% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.88) EPS. On average, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRNX. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Lifesci Capital raised Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Morgan Stanley lifted their price objective on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Citizens Jmp decreased their target price on Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Crinetics Pharmaceuticals during the second quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its position in Crinetics Pharmaceuticals by 523.7% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after acquiring an additional 707 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter worth $45,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at $48,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.