Key Points
- Crinetics Pharmaceuticals director Stephanie Okey sold 6,900 shares on June 17 at an average price of $35.67, totaling about $246,123. After the sale, she retained 6,400 shares, cutting her ownership by roughly 51.9%.
- The transaction was made under a pre-arranged Rule 10b5-1 trading plan, which suggests the sale was scheduled in advance rather than reflecting a sudden decision.
- Crinetics’ latest earnings showed a narrow miss on EPS but stronger-than-expected revenue: the company reported a loss of $1.23 per share versus estimates of a $1.22 loss, while revenue of $10.73 million exceeded expectations. Analysts remain broadly optimistic, with a consensus rating of Moderate Buy and an average target price of $76.12.
Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) Director Stephanie Okey sold 6,900 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the transaction, the director owned 6,400 shares of the company's stock, valued at $228,288. This represents a 51.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Crinetics Pharmaceuticals Stock Performance
CRNX stock opened at $35.87 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -6.99 and a beta of 0.24. The firm has a 50-day simple moving average of $37.16 and a two-hundred day simple moving average of $42.34. Crinetics Pharmaceuticals, Inc. has a one year low of $25.83 and a one year high of $57.99.
Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share for the quarter, missing analysts' consensus estimates of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The firm had revenue of $10.73 million during the quarter, compared to the consensus estimate of $8.51 million. During the same quarter in the prior year, the business posted ($1.04) earnings per share. The firm's quarterly revenue was up 2873.4% on a year-over-year basis. As a group, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Oppenheimer dropped their target price on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Citizens Jmp reissued a "market outperform" rating and issued a $95.00 price target on shares of Crinetics Pharmaceuticals in a report on Thursday, June 11th. HC Wainwright restated a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday. Wall Street Zen upgraded shares of Crinetics Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned 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 a consensus target price of $76.12.
View Our Latest Report on CRNX
Institutional Investors Weigh In On Crinetics Pharmaceuticals
Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company's stock worth $30,000 after buying an additional 331 shares during the period. Headlands Technologies LLC acquired a new stake in Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $30,000. Parallel Advisors LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 34.6% in the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company's stock valued at $57,000 after acquiring an additional 315 shares during the last quarter. Arax Advisory Partners boosted its holdings in shares of Crinetics Pharmaceuticals by 131.2% in the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company's stock valued at $70,000 after acquiring an additional 850 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the second quarter worth $45,000. Hedge funds and other institutional investors own 98.51% of the company's stock.
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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