Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Sells $180,750.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 5,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total value of $180,750.00. Following the transaction, the director owned 16,300 shares in the company, valued at $589,245. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX traded up $0.98 during midday trading on Friday, hitting $37.49. 956,529 shares of the stock were exchanged, compared to its average volume of 954,431. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $57.99. The stock has a fifty day simple moving average of $46.96 and a 200 day simple moving average of $43.71. The firm has a market cap of $3.93 billion, a P/E ratio of -7.59 and a beta of 0.23.

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

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 11.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock worth $1,995,000 after buying an additional 6,148 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crinetics Pharmaceuticals by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock worth $11,658,000 after acquiring an additional 22,305 shares during the last quarter. Strs Ohio acquired a new position in Crinetics Pharmaceuticals during the 1st quarter worth approximately $124,000. Bank of New York Mellon Corp grew its holdings in Crinetics Pharmaceuticals by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,928 shares of the company’s stock worth $9,949,000 after acquiring an additional 1,349 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $48,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRNX. 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 research report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. Morgan Stanley increased their target price on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Citizens Jmp dropped their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $74.78.

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.