Crinetics Pharmaceuticals (NASDAQ:CRNX) Insider Dana Pizzuti Sells 5,000 Shares of Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $41.81, for a total transaction of $209,050.00. Following the sale, the insider directly owned 66,270 shares in the company, valued at $2,770,748.70. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dana Pizzuti also recently made the following trade(s):

• On Friday, August 22nd, Dana Pizzuti sold 30,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $30.43, for a total transaction of $912,900.00.
• On Wednesday, August 20th, Dana Pizzuti sold 6,492 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $29.18, for a total transaction of $189,436.56.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX opened at $40.86 on Friday. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -9.94 and a beta of 0.33. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The firm’s 50 day simple moving average is $32.88 and its 200-day simple moving average is $31.74.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.10). The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.52 million. Crinetics Pharmaceuticals’s revenue for the quarter was up 158.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.94) earnings per share. Analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRNX shares. JPMorgan Chase & Co. dropped their price target on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. The Goldman Sachs Group lifted their price target on shares of Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. Leerink Partners lifted their price target on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, JMP Securities lifted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a research note on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Praxis Investment Management Inc. purchased a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at $242,000. Osaic Holdings Inc. lifted its holdings in Crinetics Pharmaceuticals by 126.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock valued at $75,000 after purchasing an additional 1,382 shares in the last quarter. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals in the 2nd quarter valued at $30,000. Tower Research Capital LLC TRC lifted its holdings in Crinetics Pharmaceuticals by 2,295.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,768 shares of the company’s stock valued at $367,000 after purchasing an additional 12,235 shares in the last quarter. Finally, Exome Asset Management LLC lifted its holdings in Crinetics Pharmaceuticals by 22.2% in the 2nd quarter. Exome Asset Management LLC now owns 62,700 shares of the company’s stock valued at $1,803,000 after purchasing an additional 11,405 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.