Insider Selling: Crinetics Pharmaceuticals (NASDAQ:CRNX) CFO Sells $266,304.71 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Tobin Schilke sold 6,713 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total value of $266,304.71. Following the transaction, the chief financial officer owned 78,121 shares of the company’s stock, valued at approximately $3,099,060.07. This represents a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crinetics Pharmaceuticals Stock Down 1.7%

NASDAQ:CRNX opened at $38.23 on Friday. The stock has a market cap of $4.00 billion, a P/E ratio of -7.74 and a beta of 0.23. The firm’s fifty day simple moving average is $47.92 and its 200 day simple moving average is $43.44. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. During the same period last year, the firm posted ($0.88) earnings per share. The firm’s revenue for the quarter was up NaN% compared to the same quarter last year. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Crinetics Pharmaceuticals by 11.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock worth $1,995,000 after acquiring an additional 6,148 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Crinetics Pharmaceuticals by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock valued at $11,658,000 after purchasing an additional 22,305 shares in the last quarter. Strs Ohio bought a new position in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $124,000. Teacher Retirement System of Texas lifted its holdings in shares of Crinetics Pharmaceuticals by 6.0% during the second quarter. Teacher Retirement System of Texas now owns 23,781 shares of the company’s stock valued at $684,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 3.3% during the second quarter. Assetmark Inc. now owns 18,667 shares of the company’s stock valued at $537,000 after purchasing an additional 603 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of research reports. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. Wall Street Zen raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citizens Jmp reduced their target price on Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating on the stock in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Morgan Stanley raised their target price on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.78.

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.