SG Americas Securities LLC Buys 11,989 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

SG Americas Securities LLC boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 59.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,271 shares of the company’s stock after buying an additional 11,989 shares during the period. SG Americas Securities LLC’s holdings in Crinetics Pharmaceuticals were worth $1,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Crinetics Pharmaceuticals by 523.7% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $35,000 after acquiring an additional 707 shares during the last quarter. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at about $30,000. Raymond James Financial Inc. bought a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at about $45,000. Penserra Capital Management LLC purchased a new stake in Crinetics Pharmaceuticals in the 2nd quarter worth about $48,000. Finally, Osaic Holdings Inc. lifted its stake in Crinetics Pharmaceuticals by 126.1% in the second quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock worth $75,000 after purchasing an additional 1,382 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Isabel Kalofonos sold 2,500 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the transaction, the insider directly owned 834 shares in the company, valued at approximately $45,870. This trade represents a 74.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total transaction of $213,300.00. Following the completion of the transaction, the insider directly owned 66,270 shares of the company’s stock, valued at $2,827,078.20. This trade represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.60% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Trading Down 0.8%

CRNX opened at $55.99 on Friday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -12.36 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $57.99. The business’s fifty day simple moving average is $47.48 and its 200-day simple moving average is $39.41.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same period in the previous year, the business posted ($0.96) earnings per share. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Analyst Ratings Changes

CRNX has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Monday, January 12th. Morgan Stanley lifted their target price on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Oppenheimer upped their price target on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Robert W. Baird raised their price target on shares of Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $80.00.

About Crinetics Pharmaceuticals

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.