Matthew K. Fust Sells 60,000 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Free Report) Director Matthew K. Fust sold 60,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $44.14, for a total transaction of $2,648,400.00. Following the completion of the sale, the director now owns 18,536 shares in the company, valued at approximately $818,179.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Crinetics Pharmaceuticals Trading Down 1.5 %

Shares of NASDAQ:CRNX opened at $44.29 on Friday. The stock has a market capitalization of $3.08 billion, a P/E ratio of -11.97 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 1-year low of $15.23 and a 1-year high of $47.58. The business has a 50-day moving average price of $39.17 and a two-hundred day moving average price of $33.57.

Crinetics Pharmaceuticals (NASDAQ:CRNXGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) earnings per share 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%. The company’s revenue was down 100.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.84) EPS. As a group, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRNX shares. Cantor Fitzgerald boosted their target price 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 started coverage on shares of Crinetics Pharmaceuticals in a research note on Wednesday, March 6th. They issued a “buy” rating and a $68.00 target price on the stock. Robert W. Baird boosted their target price on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 target price on the stock. Finally, Oppenheimer lifted their price target on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Read Our Latest Report on Crinetics Pharmaceuticals

Institutional Trading of Crinetics Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRNX. Tower Research Capital LLC TRC increased its stake 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 acquiring an additional 1,009 shares during the last quarter. Quarry LP bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $36,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 98.2% in the 3rd 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 stake in shares of Crinetics Pharmaceuticals by 382.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock valued at $43,000 after acquiring an additional 1,912 shares during the last quarter. Finally, AJOVista LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $58,000. 98.51% of the stock is owned by institutional investors.

About Crinetics Pharmaceuticals

(Get Free Report)

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.

Recommended Stories

Insider Buying and Selling by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)

Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.