Key Points
- CFO Tobin Schilke sold 6,713 shares on March 3 at an average price of $39.67 for $266,304.71, reducing his stake by 7.91% to 78,121 shares (disclosed in an SEC filing).
- Crinetics reported ($1.29) EPS for the quarter, beating consensus by $0.08, but remains unprofitable with a deeply negative net margin and negative return on equity.
- The stock trades around $39.34 with a $4.12 billion market cap, and analysts hold a “Moderate Buy” consensus with an average target price of $74.78, implying significant upside.
Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) CFO Tobin Schilke sold 6,713 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total transaction of $266,304.71. Following the completion of the transaction, the chief financial officer directly owned 78,121 shares in the company, valued at $3,099,060.07. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Crinetics Pharmaceuticals Price Performance
Shares of CRNX stock traded down $0.17 during mid-day trading on Thursday, hitting $39.34. The stock had a trading volume of 101,451 shares, compared to its average volume of 1,259,278. The firm has a market cap of $4.12 billion, a PE ratio of -7.96 and a beta of 0.23. The company's 50-day simple moving average is $48.31 and its 200-day simple moving average is $43.42. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $57.99.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share (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 quarter in the previous year, the company earned ($0.88) earnings per share. The firm's quarterly revenue was up NaN% on a year-over-year basis. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.
Hedge Funds Weigh In On Crinetics Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Crinetics Pharmaceuticals by 76.8% in the fourth quarter. Invesco Ltd. now owns 158,089 shares of the company's stock valued at $7,359,000 after purchasing an additional 68,696 shares in the last quarter. ADAR1 Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 24.6% during the 4th quarter. ADAR1 Capital Management LLC now owns 309,368 shares of the company's stock worth $14,401,000 after purchasing an additional 61,000 shares during the last quarter. Virtus Investment Advisers LLC lifted its stake in Crinetics Pharmaceuticals by 282.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 13,535 shares of the company's stock valued at $630,000 after buying an additional 9,998 shares in the last quarter. Progeny 3 Inc. acquired a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at $1,117,000. Finally, RTW Investments LP increased its position in Crinetics Pharmaceuticals by 54.9% during the fourth quarter. RTW Investments LP now owns 1,351,326 shares of the company's stock worth $62,904,000 after buying an additional 478,939 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on CRNX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. Citizens Jmp cut their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a "market outperform" rating for the company in a report on Monday. Morgan Stanley raised their price objective on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Crinetics Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, The Goldman Sachs Group raised shares of Crinetics Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $67.00 target price for the company in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $74.78.
Check Out Our Latest Stock Analysis on Crinetics Pharmaceuticals
About Crinetics Pharmaceuticals
(
Get Free Report)
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.
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