Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,090 shares of the company’s stock after selling 745 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Crinetics Pharmaceuticals were worth $2,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $84,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $91,000. KBC Group NV increased its stake in shares of Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after acquiring an additional 407 shares during the period. Amalgamated Bank grew its position in Crinetics Pharmaceuticals by 20.8% during the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after buying an additional 464 shares during the period. Finally, Advisors Asset Management Inc. grew its position in Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after buying an additional 1,008 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 2.4 %

CRNX opened at $37.35 on Friday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -10.01 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 52-week low of $35.24 and a 52-week high of $62.53. The firm’s fifty day simple moving average is $52.86 and its two-hundred day simple moving average is $52.94.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the firm earned ($1.01) EPS. On average, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, Citigroup raised their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $74.40.

Insider Transactions at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.00% of the company’s stock.

About Crinetics Pharmaceuticals

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.