Marc Wilson Sells 6,942 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Free Report) CFO Marc Wilson sold 6,942 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total transaction of $297,881.22. Following the completion of the sale, the chief financial officer now directly owns 110,630 shares in the company, valued at approximately $4,747,133.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc Wilson also recently made the following trade(s):

  • On Tuesday, January 2nd, Marc Wilson sold 10,000 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $35.47, for a total transaction of $354,700.00.

Crinetics Pharmaceuticals Stock Performance

CRNX opened at $44.97 on Friday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $15.23 and a twelve month high of $47.58. The firm has a market cap of $3.13 billion, a P/E ratio of -12.15 and a beta of 0.62. The business has a 50 day moving average price of $39.02 and a 200 day moving average price of $33.27.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. During the same period in the prior year, the firm posted ($0.84) EPS. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRNX. Tower Research Capital LLC TRC grew its position in shares of Crinetics Pharmaceuticals by 109.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after buying an additional 1,009 shares during the last quarter. Quarry LP bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $36,000. China Universal Asset Management Co. Ltd. increased its position in shares of Crinetics Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock valued at $42,000 after acquiring an additional 695 shares during the last quarter. Osaic Holdings Inc. increased its position in Crinetics Pharmaceuticals by 382.4% in the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after buying an additional 1,912 shares during the last quarter. Finally, AJOVista LLC purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter worth $58,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Cantor Fitzgerald lifted their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Citigroup began coverage on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They set a “buy” rating and a $68.00 target price for the company. Jonestrading boosted their price target on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $54.17.

View Our Latest Report on Crinetics Pharmaceuticals

About Crinetics Pharmaceuticals

(Get Free Report)

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).

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