Acuta Capital Partners LLC Sells 3,441 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Acuta Capital Partners LLC decreased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,700 shares of the company’s stock after selling 3,441 shares during the period. Crinetics Pharmaceuticals makes up approximately 5.5% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 6th largest position. Acuta Capital Partners LLC’s holdings in Crinetics Pharmaceuticals were worth $6,730,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock valued at $319,000 after acquiring an additional 227 shares during the last quarter. US Bancorp DE raised its stake in Crinetics Pharmaceuticals by 3.4% during the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock worth $587,000 after purchasing an additional 373 shares during the period. KBC Group NV boosted its holdings in Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares during the last quarter. Amalgamated Bank grew its stake in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd 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, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Crinetics Pharmaceuticals by 2.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock valued at $1,054,000 after buying an additional 505 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRNX. HC Wainwright upped their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup upped their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.18.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the sale, the insider now owns 28,507 shares of the company’s stock, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeff E. Knight sold 501 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at $2,919,427.56. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,911 shares of company stock worth $2,144,675. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $57.67 on Thursday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $30.87 and a fifty-two week high of $62.53. The company has a 50 day moving average price of $55.48 and a 200 day moving average price of $51.71. The stock has a market capitalization of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the firm earned ($1.01) EPS. On average, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Crinetics Pharmaceuticals Profile

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.