D. E. Shaw & Co. Inc. Sells 55,813 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

D. E. Shaw & Co. Inc. reduced its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 85.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,876 shares of the company's stock after selling 55,813 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Crinetics Pharmaceuticals were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRNX shares. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a "peer perform" rating for the company. Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $74.56.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock traded up $0.00 on Friday, reaching $30.52. The stock had a trading volume of 101,061 shares, compared to its average volume of 855,634. The business's 50-day moving average price is $30.89 and its two-hundred day moving average price is $39.93. The stock has a market cap of $2.86 billion, a P/E ratio of -8.19 and a beta of 0.31. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The business had revenue of $0.36 million for the quarter, compared to analysts' expectations of $0.10 million. The company's revenue was down 43.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.93) earnings per share. As a group, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the sale, the insider now owns 72,233 shares of the company's stock, valued at approximately $2,470,368.60. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,015 shares of company stock worth $923,913 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

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.