Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC trimmed its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 30.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,225 shares of the company’s stock after selling 31,020 shares during the period. Lisanti Capital Growth LLC owned approximately 0.09% of Crinetics Pharmaceuticals worth $3,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRNX. First Light Asset Management LLC increased its stake in Crinetics Pharmaceuticals by 25.5% during the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock worth $70,725,000 after purchasing an additional 404,443 shares during the period. Fisher Asset Management LLC grew its stake in shares of Crinetics Pharmaceuticals by 718.6% in the fourth quarter. Fisher Asset Management LLC now owns 440,893 shares of the company’s stock worth $15,687,000 after acquiring an additional 387,033 shares in the last quarter. TD Asset Management Inc increased its position in shares of Crinetics Pharmaceuticals by 26.5% during the fourth quarter. TD Asset Management Inc now owns 176,426 shares of the company’s stock worth $6,277,000 after acquiring an additional 37,000 shares during the period. Jennison Associates LLC raised its stake in shares of Crinetics Pharmaceuticals by 77.7% in the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after acquiring an additional 1,113,992 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Crinetics Pharmaceuticals by 1.1% in the third quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after purchasing an additional 38,523 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 1.6 %

NASDAQ:CRNX traded up $0.86 during mid-day trading on Friday, reaching $53.67. 947,381 shares of the stock were exchanged, compared to its average volume of 1,003,148. Crinetics Pharmaceuticals, Inc. has a 1 year low of $15.76 and a 1 year high of $54.57. The company has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $42.80. The stock has a market capitalization of $4.23 billion, a P/E ratio of -14.20 and a beta of 0.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, May 9th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.20 million. Crinetics Pharmaceuticals’s revenue for the quarter was down 76.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.85) earnings per share. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.54 EPS for the current year.

Insider Activity

In other news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the sale, the insider now owns 27,786 shares in the company, valued at $1,235,643.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the sale, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen F. Betz sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.55, for a total value of $145,650.00. Following the completion of the sale, the insider now owns 78,611 shares in the company, valued at $3,816,564.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,783 shares of company stock valued at $10,369,292. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRNX shares. Robert W. Baird increased their price target on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Jonestrading raised their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Morgan Stanley boosted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer raised their price objective on shares of Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $64.08.

Crinetics Pharmaceuticals Profile

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.