Insider Sell: CFO Marc Wilson Sells 10,000 Shares of Crinetics Pharmaceuticals Inc (CRNX)
On November 1, 2023, Marc Wilson, the Chief Financial Officer (CFO) of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX), sold 10,000 shares of the company. This move is part of a series of insider transactions that have been taking place over the past year.
Marc Wilson is a seasoned financial executive with extensive experience in the pharmaceutical industry. As the CFO of Crinetics Pharmaceuticals Inc, he is responsible for the company's financial strategy and operations. His decision to sell shares of the company is noteworthy and may signal his perspective on the company's future prospects.
Crinetics Pharmaceuticals Inc is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly, a disease that results from excess growth hormone production.
Over the past year, the insider has sold a total of 40,922 shares and purchased 0 shares. This recent sale of 10,000 shares is a continuation of this trend.
The insider transaction history for Crinetics Pharmaceuticals Inc shows a trend of more insider sells than buys over the past year. There have been 1 insider buys in total, compared to 12 insider sells. This could indicate that insiders believe the stock is overvalued at its current price.
On the day of the insider's recent sell, shares of Crinetics Pharmaceuticals Inc were trading for $28.75 apiece. This gives the stock a market cap of $2.03 billion.
With a price of $28.75 and a GuruFocus Value of $0.66, Crinetics Pharmaceuticals Inc has a price-to-GF-Value ratio of 43.56. This suggests that the stock is significantly overvalued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
In conclusion, the recent sale of shares by CFO Marc Wilson, along with the overall trend of insider sells over the past year, may suggest that insiders believe Crinetics Pharmaceuticals Inc's stock is currently overvalued. Investors should consider this information when making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
