Walleye Capital LLC Has $5.48 Million Stock Position in Crinetics Pharmaceuticals, Inc. $CRNX

Walleye Capital LLC grew its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 53.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,373 shares of the company’s stock after acquiring an additional 66,391 shares during the quarter. Walleye Capital LLC’s holdings in Crinetics Pharmaceuticals were worth $5,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC lifted its position in Crinetics Pharmaceuticals by 1.8% in the first quarter. Natixis Advisors LLC now owns 46,509 shares of the company’s stock worth $1,560,000 after purchasing an additional 826 shares during the period. PNC Financial Services Group Inc. increased its holdings in Crinetics Pharmaceuticals by 25.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock valued at $114,000 after buying an additional 688 shares during the period. Vanguard Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 9,311,600 shares of the company’s stock valued at $312,311,000 after buying an additional 222,209 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Crinetics Pharmaceuticals by 1.5% during the 1st quarter. Swiss National Bank now owns 161,800 shares of the company’s stock worth $5,427,000 after acquiring an additional 2,400 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at about $18,881,000. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX opened at $46.67 on Friday. The business’s 50 day simple moving average is $43.24 and its 200-day simple moving average is $35.53. Crinetics Pharmaceuticals, Inc. has a one year low of $24.10 and a one year high of $60.34. The company has a market capitalization of $4.43 billion, a P/E ratio of -10.30 and a beta of 0.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.39 million. During the same quarter in the previous year, the firm earned ($0.96) EPS. On average, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 4,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the completion of the sale, the chief executive officer directly owned 106,000 shares in the company, valued at $4,770,000. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 16,000 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $44.75, for a total transaction of $716,000.00. Following the transaction, the director owned 22,836 shares in the company, valued at approximately $1,021,911. The trade was a 41.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,000 shares of company stock worth $1,318,350 over the last 90 days. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the subject of several recent research reports. JMP Securities increased their price target on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. Citizens Jmp lowered their price objective on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. The Goldman Sachs Group increased their target price on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Morgan Stanley boosted their price target on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Finally, Robert W. Baird increased their price objective on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.55.

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.