Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,100 shares of the company's stock after selling 14,300 shares during the period. Two Sigma Advisers LP's holdings in Crinetics Pharmaceuticals were worth $414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $41,000. State of Wyoming acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $50,000. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $66,000. Finally, KBC Group NV grew its holdings 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 worth $190,000 after acquiring an additional 1,519 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX traded up $0.69 during trading hours on Friday, reaching $33.01. 496,611 shares of the company traded hands, compared to its average volume of 851,305. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The stock has a market cap of $3.09 billion, a P/E ratio of -8.85 and a beta of 0.28. The firm's 50-day moving average is $30.67 and its 200-day moving average is $38.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating on the stock. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.56.

Insiders Place Their Bets

In related news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. This trade represents a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at $2,470,368.60. This trade represents a 3.36% 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 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Company 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.