Marc Wilson Sells 25,000 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marc Wilson also recently made the following trade(s):

• On Thursday, July 25th, Marc Wilson sold 19,056 shares of Crinetics Pharmaceuticals stock. The stock was sold at an average price of $53.88, for a total value of $1,026,737.28.
• On Monday, July 15th, Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00.

Crinetics Pharmaceuticals Stock Performance

NASDAQ CRNX opened at $51.92 on Wednesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of -13.74 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a 52 week low of $25.35 and a 52 week high of $55.78. The stock has a fifty day moving average of $52.03 and a 200-day moving average of $48.45.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. During the same period last year, the firm posted ($0.94) EPS. The firm’s revenue for the quarter was down 59.6% on a year-over-year basis. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRNX shares. Piper Sandler reissued an “overweight” rating and set a $97.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their target price on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. HC Wainwright boosted their price target on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.55.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several institutional investors have recently modified their holdings of CRNX. Comerica Bank bought a new position in Crinetics Pharmaceuticals in the first quarter valued at approximately $33,000. Quest Partners LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at $42,000. Quarry LP acquired a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at $36,000. Amalgamated Bank boosted its position in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after purchasing an additional 464 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals during the first quarter worth $200,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

About Crinetics Pharmaceuticals

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.