Algert Global LLC Sells 25,270 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Algert Global LLC reduced its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 25.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,532 shares of the company's stock after selling 25,270 shares during the quarter. Algert Global LLC owned approximately 0.07% of Crinetics Pharmaceuticals worth $2,714,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRNX. GW&K Investment Management LLC boosted its position in Crinetics Pharmaceuticals by 73.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company's stock valued at $68,723,000 after purchasing an additional 625,779 shares during the period. Glenmede Trust Co. NA increased its position in Crinetics Pharmaceuticals by 72.6% in the first quarter. Glenmede Trust Co. NA now owns 29,245 shares of the company's stock worth $1,062,000 after buying an additional 12,301 shares during the period. UBS Group AG increased its position in Crinetics Pharmaceuticals by 122.7% in the fourth quarter. UBS Group AG now owns 908,192 shares of the company's stock worth $42,276,000 after buying an additional 500,470 shares during the period. Sector Gamma AS bought a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at $5,353,000. Finally, Rice Hall James & Associates LLC bought a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at about $7,346,000. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRNX has been the subject of several analyst reports. JonesTrading downgraded Crinetics Pharmaceuticals from a "buy" rating to a "hold" rating and set a $85.00 price objective for the company. in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer reiterated a "market perform" rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. HC Wainwright lowered shares of Crinetics Pharmaceuticals from a "buy" rating to a "hold" rating and raised their price objective for the company from $81.00 to $85.00 in a research note on Tuesday, July 7th. Finally, Lifesci Capital cut Crinetics Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $81.00.

Crinetics Pharmaceuticals Trading Down 0.0%

NASDAQ CRNX opened at $84.84 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $30.25 and a 1 year high of $84.89. The company has a fifty day simple moving average of $73.98 and a 200 day simple moving average of $50.73. The company has a market cap of $9.00 billion, a P/E ratio of -16.83 and a beta of 0.12.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.04. Crinetics Pharmaceuticals had a negative return on equity of 44.22% and a negative net margin of 1,189.88%.The company had revenue of $25.12 million during the quarter, compared to analysts' expectations of $14.84 million. During the same period in the prior year, the business earned ($1.23) earnings per share. Crinetics Pharmaceuticals's revenue for the quarter was up 2336.9% compared to the same quarter last year. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -4.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephanie Okey sold 6,900 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the transaction, the director owned 6,400 shares in the company, valued at $228,288. This trade represents a 51.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 19,225 shares in the company, valued at approximately $769,000. This represents a 13.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company's stock.

Crinetics Pharmaceuticals Company 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.

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