Crinetics Pharmaceuticals, Inc. $CRNX Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lowered its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 12.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 850,546 shares of the company’s stock after selling 120,264 shares during the quarter. GW&K Investment Management LLC’s holdings in Crinetics Pharmaceuticals were worth $35,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRNX. Farther Finance Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 523.7% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after buying an additional 707 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at $30,000. Covestor Ltd lifted its position in shares of Crinetics Pharmaceuticals by 23,983.3% during the 3rd quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after acquiring an additional 1,439 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter worth $45,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter worth $68,000. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Trading Down 1.5%

Shares of Crinetics Pharmaceuticals stock opened at $38.90 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $57.99. The company has a market cap of $4.07 billion, a P/E ratio of -7.87 and a beta of 0.23. The stock has a 50-day moving average price of $48.12 and a 200 day moving average price of $43.39.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.The firm’s quarterly revenue was up NaN% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.88) EPS. On average, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, Director Stephanie Okey sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total value of $119,010.00. Following the completion of the sale, the director owned 13,300 shares in the company, valued at $527,611. This represents a 18.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Isabel Kalofonos sold 2,500 shares of Crinetics Pharmaceuticals stock in a transaction 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 sale, the insider directly owned 834 shares of the company’s stock, valued at $45,870. This trade represents a 74.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,213 shares of company stock worth $522,815. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRNX shares. Wall Street Zen raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Monday, January 12th. Citizens Jmp reduced their price objective on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research note on Monday. Morgan Stanley raised their target price on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.78.

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.