Isabel Kalofonos Sells 2,500 Shares of Crinetics Pharmaceuticals (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) insider Isabel Kalofonos sold 2,500 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the sale, the insider directly owned 834 shares of the company’s stock, valued at approximately $45,870. The trade was a 74.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Crinetics Pharmaceuticals Stock Down 0.2%

Crinetics Pharmaceuticals stock opened at $53.24 on Friday. The stock has a market capitalization of $5.05 billion, a PE ratio of -11.75 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $57.99. The company has a 50 day moving average of $45.96 and a 200-day moving average of $38.36.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The company had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.39 million. During the same quarter last year, the firm posted ($0.96) EPS. Equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in Crinetics Pharmaceuticals by 35.8% during the first quarter. Advisors Asset Management Inc. now owns 6,674 shares of the company’s stock worth $224,000 after acquiring an additional 1,761 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Crinetics Pharmaceuticals by 11.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock worth $1,995,000 after purchasing an additional 6,148 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth about $95,000. Exome Asset Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 1st quarter valued at about $1,720,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crinetics Pharmaceuticals by 6.9% in the 1st 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 during the last quarter. 98.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRNX has been the subject of several recent research reports. Morgan Stanley upped their price objective on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Citizens Jmp lowered their price objective on shares of Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating on the stock in a report on Thursday. JMP Securities increased their target price on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a report on Friday, September 26th. Finally, Robert W. Baird raised their target price on shares of Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.55.

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.