Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Algert Global LLC

Algert Global LLC decreased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 32.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,777 shares of the company's stock after selling 14,000 shares during the quarter. Algert Global LLC's holdings in Crinetics Pharmaceuticals were worth $1,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRNX. Venturi Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $41,000. Headlands Technologies LLC acquired a new position in Crinetics Pharmaceuticals during the 4th quarter worth about $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $66,000. KBC Group NV boosted its position in shares of Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after purchasing an additional 1,519 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

CRNX has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating for the company. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating on the stock. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $73.00.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares of the company's stock, valued at $2,470,368.60. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at approximately $2,992,192.20. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,015 shares of company stock worth $923,913 in the last three months. 4.60% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded down $2.37 during trading on Tuesday, hitting $30.95. The stock had a trading volume of 1,519,626 shares, compared to its average volume of 861,652. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The company has a market capitalization of $2.90 billion, a PE ratio of -8.30 and a beta of 0.31. The firm has a fifty day moving average of $31.94 and a two-hundred day moving average of $42.16.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The company had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.10 million. The company's quarterly revenue was down 43.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.93) earnings per share. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.