Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Sells $244,940.40 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were 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. The trade was a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $34.42 on Monday. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53. The company has a market cap of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58. The firm has a 50-day moving average of $36.22 and a 200-day moving average of $48.07.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CRNX. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.30.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CRNX. Venturi Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at about $41,000. State of Wyoming purchased a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at about $50,000. Headlands Technologies LLC bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $66,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $100,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

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.