Lisanti Capital Growth LLC Purchases 20,150 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Lisanti Capital Growth LLC raised its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 88.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 43,040 shares of the company’s stock after acquiring an additional 20,150 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Crinetics Pharmaceuticals were worth $2,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CRNX. First Light Asset Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 9.0% during the third quarter. First Light Asset Management LLC now owns 941,516 shares of the company’s stock valued at $39,214,000 after buying an additional 77,380 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Crinetics Pharmaceuticals by 13.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 387,925 shares of the company’s stock worth $16,157,000 after buying an additional 46,220 shares during the last quarter. Candriam S.C.A. lifted its stake in Crinetics Pharmaceuticals by 7.4% during the 3rd quarter. Candriam S.C.A. now owns 745,094 shares of the company’s stock valued at $31,033,000 after acquiring an additional 51,225 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Crinetics Pharmaceuticals by 279.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock valued at $52,426,000 after acquiring an additional 926,765 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth approximately $2,841,000. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRNX. Oppenheimer lowered their price objective on shares of Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Citizens Jmp dropped their price target on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Monday, April 20th. Finally, Lifesci Capital raised Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $76.13.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Jeff E. Knight sold 85,163 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $40.10, for a total transaction of $3,415,036.30. Following the transaction, the insider owned 105,289 shares in the company, valued at approximately $4,222,088.90. The trade was a 44.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Scott Struthers sold 21,981 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $821,429.97. Following the completion of the transaction, the chief executive officer directly owned 404,778 shares of the company’s stock, valued at $15,126,553.86. This represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 142,380 shares of company stock valued at $5,569,475. 3.80% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $36.80 on Friday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -7.17 and a beta of 0.28. Crinetics Pharmaceuticals, Inc. has a 1 year low of $25.83 and a 1 year high of $57.99. The firm has a fifty day moving average price of $37.71 and a 200-day moving average price of $43.45.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 43.96% and a negative net margin of 2,747.18%.The company had revenue of $10.73 million during the quarter, compared to analysts’ expectations of $8.51 million. During the same quarter in the previous year, the company earned ($1.04) EPS. The business’s quarterly revenue was up 2873.4% compared to the same quarter last year. Equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -4.82 EPS for the current year.

Crinetics Pharmaceuticals Company Profile

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.