Richard Scott Struthers Sells 40,951 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 40,951 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $49.17, for a total value of $2,013,560.67. Following the completion of the transaction, the chief executive officer now directly owns 237,835 shares in the company, valued at $11,694,346.95. The transaction was disclosed in a filing with the SEC, which is available at this link.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $46.91 on Wednesday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -12.68 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a 1 year low of $15.50 and a 1 year high of $49.58. The firm has a fifty day moving average price of $41.34 and a 200-day moving average price of $35.32.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Crinetics Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.84) earnings per share. Equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of research analyst reports. Citigroup assumed coverage on Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They set a “buy” rating and a $68.00 price target on the stock. Cantor Fitzgerald upped 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. Oppenheimer lifted their price target on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 19th. Finally, Jefferies Financial Group assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Thursday, December 21st. They issued a “hold” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.17.

Institutional Trading of Crinetics Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in CRNX. BlackRock Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 16.3% in the second quarter. BlackRock Inc. now owns 4,600,486 shares of the company’s stock valued at $82,901,000 after purchasing an additional 644,128 shares in the last quarter. Wellington Management Group LLP lifted its position in Crinetics Pharmaceuticals by 1.1% during the third quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after purchasing an additional 38,523 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,502,452 shares of the company’s stock worth $124,617,000 after buying an additional 95,417 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Crinetics Pharmaceuticals by 16.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,008,858 shares of the company’s stock worth $107,056,000 after buying an additional 430,659 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Crinetics Pharmaceuticals by 77.7% during the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after buying an additional 1,113,992 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

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.