Jeff E. Knight Sells 501 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 501 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Crinetics Pharmaceuticals Price Performance

CRNX opened at $57.67 on Thursday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -15.46 and a beta of 0.62. The stock’s 50 day simple moving average is $55.48 and its 200 day simple moving average is $51.71. Crinetics Pharmaceuticals, Inc. has a 1 year low of $30.87 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the firm posted ($1.01) earnings per share. As a group, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in Crinetics Pharmaceuticals by 264.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after purchasing an additional 1,434,909 shares during the period. Artal Group S.A. bought a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at about $65,088,000. Driehaus Capital Management LLC raised its stake in Crinetics Pharmaceuticals by 17.0% in the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock worth $273,764,000 after buying an additional 885,876 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after buying an additional 814,360 shares during the period. Finally, Franklin Resources Inc. boosted its position in Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after acquiring an additional 528,688 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Citigroup raised their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.18.

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.