Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) Insider Sells $5,550,000.00 in Stock

Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) insider Ventures Iv L.P. 5Am sold 250,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $22.20, for a total value of $5,550,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of NASDAQ:CRNX traded down $0.93 during trading on Thursday, hitting $24.00. 40,167 shares of the company’s stock traded hands, compared to its average volume of 65,508. The firm has a 50-day simple moving average of $24.64. Crinetics Pharmaceuticals Inc has a 52 week low of $20.13 and a 52 week high of $42.00. The firm has a market cap of $601.81 million and a P/E ratio of -10.76. The company has a current ratio of 18.04, a quick ratio of 18.04 and a debt-to-equity ratio of 0.04.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Monday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.04. Crinetics Pharmaceuticals had a negative return on equity of 26.96% and a negative net margin of 1,303.31%. The business had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.25 million. Equities analysts forecast that Crinetics Pharmaceuticals Inc will post -1.92 EPS for the current year.

CRNX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating on shares of Pulmatrix in a report on Tuesday, April 16th. Zacks Investment Research cut GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.20.

A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp increased its position in shares of Crinetics Pharmaceuticals by 0.7% during the 4th quarter. Northern Trust Corp now owns 76,727 shares of the company’s stock worth $2,301,000 after purchasing an additional 498 shares during the last quarter. Rhumbline Advisers increased its position in shares of Crinetics Pharmaceuticals by 15.4% during the 1st quarter. Rhumbline Advisers now owns 9,776 shares of the company’s stock worth $223,000 after purchasing an additional 1,301 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth approximately $42,000. Marshall Wace North America L.P. acquired a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth approximately $43,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $123,000. 73.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.

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