Crinetics Pharmaceuticals (NASDAQ:CRNX) COO Jeff Knight Sells 9,911 Shares of Stock
by Mitch Edgeman · The Markets DailyCrinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Free Report) COO Jeff Knight sold 9,911 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $370,374.07. Following the completion of the sale, the chief operating officer owned 112,018 shares in the company, valued at $4,186,112.66. The trade was a 8.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Crinetics Pharmaceuticals Stock Performance
NASDAQ:CRNX opened at $36.05 on Thursday. The firm’s fifty day moving average is $46.23 and its two-hundred day moving average is $43.93. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -7.30 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a one year low of $24.10 and a one year high of $57.99.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.During the same period in the previous year, the firm posted ($0.88) earnings per share. The company’s revenue was up NaN% on a year-over-year basis. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Crinetics Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after acquiring an additional 331 shares in the last quarter. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals during the second quarter valued at $30,000. Farther Finance Advisors LLC grew its position in shares of Crinetics Pharmaceuticals by 523.7% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $35,000 after purchasing an additional 707 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Crinetics Pharmaceuticals during the second quarter worth about $45,000. Finally, Parallel Advisors LLC increased its stake in shares of Crinetics Pharmaceuticals by 34.6% during the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on CRNX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Morgan Stanley raised their price target on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.78.
Get Our Latest Research Report on CRNX
Crinetics Pharmaceuticals Company Profile
Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.
The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.