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

Lisanti Capital Growth LLC grew its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 88.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,040 shares of the company’s stock after purchasing an additional 20,150 shares during the period. Lisanti Capital Growth LLC’s holdings in Crinetics Pharmaceuticals were worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Crinetics Pharmaceuticals by 44.3% during the third quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock worth $349,110,000 after buying an additional 2,574,683 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 24.2% during the third quarter. Farallon Capital Management LLC now owns 5,770,098 shares of the company’s stock valued at $240,325,000 after purchasing an additional 1,124,000 shares in the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Crinetics Pharmaceuticals by 8.8% during the third quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company’s stock worth $106,240,000 after purchasing an additional 207,221 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Crinetics Pharmaceuticals by 6.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,560,300 shares of the company’s stock valued at $72,632,000 after acquiring an additional 95,038 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Crinetics Pharmaceuticals by 279.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock worth $52,426,000 after buying an additional 926,765 shares during the period. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 10,612 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.37, for a total value of $396,570.44. Following the transaction, the insider directly owned 137,101 shares of the company’s stock, valued at $5,123,464.37. The trade was a 7.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tobin Schilke sold 6,713 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $39.67, for a total transaction of $266,304.71. Following the completion of the transaction, the chief financial officer owned 78,121 shares of the company’s stock, valued at $3,099,060.07. This trade represents a 7.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 142,380 shares of company stock valued at $5,569,475. 3.80% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Stock Down 0.8%

CRNX opened at $36.80 on Friday. The company’s 50-day moving average price is $37.71 and its two-hundred day moving average price is $43.45. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.83 and a twelve month high of $57.99. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -7.17 and a beta of 0.28.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced 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 net margin of 2,747.18% and a negative return on equity of 43.96%. The business had revenue of $10.73 million for the quarter, compared to analysts’ expectations of $8.51 million. During the same quarter in the previous year, the company posted ($1.04) earnings per share. The business’s quarterly revenue was up 2873.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.82 earnings per share for the current year.

Crinetics Pharmaceuticals 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.