SG Americas Securities LLC Lowers Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

SG Americas Securities LLC reduced its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 522,266 shares of the company's stock after selling 20,180 shares during the quarter. SG Americas Securities LLC owned approximately 0.56% of Crinetics Pharmaceuticals worth $17,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in Crinetics Pharmaceuticals during the fourth quarter valued at $41,000. State of Wyoming bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $50,000. Headlands Technologies LLC bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $66,000. Finally, GF Fund Management CO. LTD. bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $100,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Stock Down 0.5%

Shares of CRNX traded down $0.16 during trading hours on Thursday, hitting $32.17. The company had a trading volume of 678,946 shares, compared to its average volume of 847,078. The firm has a market cap of $3.01 billion, a P/E ratio of -8.62 and a beta of 0.28. The stock's 50 day moving average price is $30.99 and its 200 day moving average price is $38.24. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53.

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

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 owns 72,233 shares of the company's stock, valued at $2,470,368.60. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value 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 $2,992,192.20. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,015 shares of company stock valued at $923,913 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $74.56.

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.