Lisanti Capital Growth LLC Has $3.57 Million Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Lisanti Capital Growth LLC increased its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 100.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,245 shares of the company’s stock after buying an additional 50,265 shares during the period. Lisanti Capital Growth LLC’s holdings in Crinetics Pharmaceuticals were worth $3,567,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRNX. Jennison Associates LLC boosted its position in Crinetics Pharmaceuticals by 77.7% during the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock worth $90,647,000 after buying an additional 1,113,992 shares during the period. FMR LLC boosted its position in Crinetics Pharmaceuticals by 97.7% during the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock worth $63,669,000 after buying an additional 1,057,947 shares during the period. Vanguard Group Inc. boosted its position in Crinetics Pharmaceuticals by 24.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock worth $101,325,000 after buying an additional 674,301 shares during the period. Avidity Partners Management LP acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $18,141,000. Finally, Eventide Asset Management LLC boosted its position in Crinetics Pharmaceuticals by 134.3% during the 3rd quarter. Eventide Asset Management LLC now owns 1,018,782 shares of the company’s stock worth $30,299,000 after buying an additional 584,014 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Marc Wilson sold 6,942 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total value of $297,881.22. Following the transaction, the chief financial officer now directly owns 110,630 shares of the company’s stock, valued at approximately $4,747,133.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Marc Wilson sold 6,942 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total value of $297,881.22. Following the sale, the chief financial officer now directly owns 110,630 shares in the company, valued at approximately $4,747,133.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew K. Fust sold 60,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $44.14, for a total value of $2,648,400.00. Following the completion of the sale, the director now owns 18,536 shares in the company, valued at $818,179.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,216 shares of company stock valued at $8,509,397. 7.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRNX shares. Morgan Stanley began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They set an “overweight” rating and a $50.00 target price on the stock. Jonestrading increased their target price on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Oppenheimer boosted their price target on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Robert W. Baird lifted their price objective on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Cantor Fitzgerald upped their target price on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Crinetics Pharmaceuticals Stock Performance

CRNX traded down $0.70 during mid-day trading on Monday, reaching $46.50. 561,205 shares of the stock were exchanged, compared to its average volume of 762,364. The stock has a market capitalization of $3.66 billion, a PE ratio of -12.57 and a beta of 0.63. The company has a 50 day moving average price of $43.99 and a two-hundred day moving average price of $37.54. Crinetics Pharmaceuticals, Inc. has a 1 year low of $15.76 and a 1 year high of $49.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The company’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.84) earnings per share. Sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current fiscal year.

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.