Richard Scott Struthers Sells 17,338 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CEO Richard Scott Struthers sold 17,338 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company’s stock, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock traded up $0.09 during trading hours on Friday, reaching $34.42. The company had a trading volume of 2,322,955 shares, compared to its average volume of 814,769. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53. The firm has a market cap of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58. The business has a fifty day simple moving average of $36.34 and a 200 day simple moving average of $48.26.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Crinetics Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Crinetics Pharmaceuticals by 75.5% during the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Franklin Resources Inc. grew its position in shares of 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 during the period. Geode Capital Management LLC grew its position in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after acquiring an additional 169,746 shares during the period. SG Americas Securities LLC grew its position in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after acquiring an additional 529,483 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Crinetics Pharmaceuticals by 8.4% in the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock worth $24,635,000 after buying an additional 37,429 shares during the period. 98.51% of the stock is owned by institutional investors.

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.