Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 211,314 shares of the company’s stock after selling 4,803 shares during the period. Deutsche Bank AG’s holdings in Crinetics Pharmaceuticals were worth $10,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Martingale Asset Management L P boosted its stake in shares of Crinetics Pharmaceuticals by 1.9% during the fourth quarter. Martingale Asset Management L P now owns 22,484 shares of the company’s stock worth $1,150,000 after buying an additional 410 shares during the period. NEOS Investment Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 0.9% during the fourth quarter. NEOS Investment Management LLC now owns 57,933 shares of the company’s stock worth $2,962,000 after buying an additional 544 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after buying an additional 600 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Crinetics Pharmaceuticals by 1.9% during the fourth 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 period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRNX. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Activity

In related news, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now owns 72,233 shares in the company, valued at $2,470,368.60. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares of the company’s stock, valued at $2,992,192.20. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,015 shares of company stock valued at $923,913 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 0.1%

CRNX stock opened at $31.24 on Friday. The firm has a 50 day moving average of $31.73 and a 200-day moving average of $41.66. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -8.38 and a beta of 0.31.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results 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 analysts’ expectations of $0.10 million. The business’s revenue for the quarter was down 43.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.93) earnings per share. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.