Crinetics Pharmaceuticals, Inc. $CRNX Holdings Decreased by Walleye Capital LLC

Key Points

• Walleye Capital LLC has reduced its holdings in Crinetics Pharmaceuticals by 15.2%, now owning 123,982 shares valued at approximately $4.16 million.
• Insider Dana Pizzuti sold 30,000 shares of Crinetics stock for $912,900, marking a 31.16% decrease in their ownership.
• Analysts have given mixed ratings on Crinetics, with HC Wainwright setting a target price of $81.00 while Goldman Sachs issued a neutral rating at $36.00.

Walleye Capital LLC lowered its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 15.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,982 shares of the company's stock after selling 22,156 shares during the quarter. Walleye Capital LLC owned approximately 0.13% of Crinetics Pharmaceuticals worth $4,158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRNX. Farallon Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 250.7% in the fourth quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock valued at $208,360,000 after acquiring an additional 2,913,098 shares in the last quarter. Nuveen LLC purchased a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth $18,881,000. Candriam S.C.A. purchased a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth $16,398,000. Point72 Asset Management L.P. lifted its stake in shares of Crinetics Pharmaceuticals by 21.2% during the 4th quarter. Point72 Asset Management L.P. now owns 2,788,939 shares of the company's stock worth $142,598,000 after purchasing an additional 488,296 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Crinetics Pharmaceuticals by 15.1% during the fourth quarter. Janus Henderson Group PLC now owns 2,795,441 shares of the company's stock worth $142,902,000 after buying an additional 365,991 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Up 1.1%

Shares of CRNX traded up $0.34 during mid-day trading on Friday, reaching $30.99. 1,135,556 shares of the stock traded hands, compared to its average volume of 1,019,249. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -7.54 and a beta of 0.33. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $31.42. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.10). The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.52 million. During the same quarter in the prior year, the company earned ($0.94) EPS. The firm's revenue for the quarter was up 158.4% on a year-over-year basis. On average, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRNX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, July 10th. They set a "neutral" rating and a $36.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. Finally, JMP Securities cut their price objective on Crinetics Pharmaceuticals from $90.00 to $86.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.86.

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 97,483 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $32.23, for a total transaction of $3,141,877.09. Following the sale, the insider directly owned 99,713 shares in the company, valued at $3,213,749.99. The trade was a 49.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dana Pizzuti sold 30,000 shares of Crinetics Pharmaceuticals stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $30.43, for a total transaction of $912,900.00. Following the completion of the sale, the insider owned 66,270 shares of the company's stock, valued at approximately $2,016,596.10. This trade represents a 31.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,975 shares of company stock worth $4,244,214. Corporate insiders own 4.60% of the company's stock.

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.