Crinetics Pharmaceuticals Inc’s (CRNX) Lock-Up Period To Expire Tomorrow
Crinetics Pharmaceuticals’ (NASDAQ:CRNX) lock-up period will end on Monday, January 14th. Crinetics Pharmaceuticals had issued 6,000,000 shares in its IPO on July 18th. The total size of the offering was $102,000,000 based on an initial share price of $17.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
CRNX has been the topic of a number of analyst reports. Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Crinetics Pharmaceuticals from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 14th.
CRNX opened at $23.37 on Friday. Crinetics Pharmaceuticals has a 52 week low of $19.23 and a 52 week high of $42.00.
Several institutional investors and hedge funds have recently bought and sold shares of CRNX. Vivo Capital LLC purchased a new position in Crinetics Pharmaceuticals during the third quarter worth about $108,646,000. FMR LLC purchased a new position in Crinetics Pharmaceuticals during the third quarter worth about $77,866,000. Perceptive Advisors LLC purchased a new position in Crinetics Pharmaceuticals during the third quarter worth about $74,144,000. Janus Henderson Group PLC purchased a new position in Crinetics Pharmaceuticals during the third quarter worth about $15,034,000. Finally, BlackRock Inc. purchased a new position in Crinetics Pharmaceuticals during the third quarter worth about $12,013,000. 67.26% of the stock is currently owned by institutional investors and hedge funds.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
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