Creative Planning Sells 1,445 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Creative Planning lowered its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,469 shares of the company’s stock after selling 1,445 shares during the quarter. Creative Planning’s holdings in Crinetics Pharmaceuticals were worth $819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRNX. Exome Asset Management LLC acquired a new stake in Crinetics Pharmaceuticals during the first quarter valued at approximately $1,720,000. Rhumbline Advisers grew its holdings in shares of Crinetics Pharmaceuticals by 6.3% during the first quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock worth $4,426,000 after purchasing an additional 7,872 shares during the last quarter. Intech Investment Management LLC increased its position in Crinetics Pharmaceuticals by 32.1% in the 1st quarter. Intech Investment Management LLC now owns 56,950 shares of the company’s stock valued at $1,910,000 after acquiring an additional 13,845 shares in the last quarter. Swiss National Bank increased its holdings in shares of Crinetics Pharmaceuticals by 1.5% in the first quarter. Swiss National Bank now owns 161,800 shares of the company’s stock valued at $5,427,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Crinetics Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 9,311,600 shares of the company’s stock valued at $312,311,000 after buying an additional 222,209 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the transaction, the insider owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 16,000 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $44.75, for a total transaction of $716,000.00. Following the sale, the director directly owned 22,836 shares in the company, valued at approximately $1,021,911. The trade was a 41.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,000 shares of company stock worth $1,318,350 over the last three months. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CRNX shares. JMP Securities lifted their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. Morgan Stanley raised their target price on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Oppenheimer boosted their price target on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Finally, Citizens Jmp reduced their price target on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.55.

Crinetics Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ:CRNX opened at $45.25 on Tuesday. The company’s 50 day moving average price is $42.58 and its two-hundred day moving average price is $35.13. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $60.34. The firm has a market cap of $4.29 billion, a PE ratio of -9.99 and a beta of 0.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.39 million. During the same period last year, the firm posted ($0.96) EPS. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current 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.