SG Americas Securities LLC Sells 20,180 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

SG Americas Securities LLC trimmed its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 3.7% during the first quarter, according to its most recent filing 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 0.56% of Crinetics Pharmaceuticals worth $17,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CRNX. Janney Montgomery Scott LLC boosted its holdings 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 last quarter. abrdn plc boosted its holdings in Crinetics Pharmaceuticals by 22.3% during the 4th quarter. abrdn plc now owns 43,389 shares of the company's stock worth $2,218,000 after acquiring an additional 7,922 shares during the last quarter. Legato Capital Management LLC boosted its holdings in Crinetics Pharmaceuticals by 15.9% during the 4th quarter. Legato Capital Management LLC now owns 29,554 shares of the company's stock worth $1,511,000 after acquiring an additional 4,057 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Crinetics Pharmaceuticals by 14.1% in the 4th quarter. Rhumbline Advisers now owns 124,078 shares of the company's stock worth $6,344,000 after buying an additional 15,359 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Crinetics Pharmaceuticals by 1.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 38,049 shares of the company's stock worth $1,945,000 after buying an additional 708 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Stock Performance

NASDAQ CRNX traded down $0.40 during trading on Friday, hitting $31.77. 557,240 shares of the company's stock traded hands, compared to its average volume of 847,330. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -8.52 and a beta of 0.28. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The business has a 50 day moving average of $31.12 and a 200-day moving average of $37.93.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released 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 business had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.10 million. The firm's revenue was down 43.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.93) earnings per share. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $74.56.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 7,162 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of the company'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 $592,959.60. Following the completion of the transaction, the chief executive officer now owns 329,147 shares in the company, valued at approximately $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 valued at $923,913 over the last three months. 4.60% of the stock is currently owned by insiders.

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.