22,890 Shares in Crinetics Pharmaceuticals, Inc. $CRNX Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,890 shares of the company’s stock, valued at approximately $953,000.

Several other large investors have also modified their holdings of CRNX. California State Teachers Retirement System lifted its position in shares of Crinetics Pharmaceuticals by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 75,484 shares of the company’s stock worth $2,171,000 after purchasing an additional 487 shares during the period. Arizona State Retirement System raised its stake in Crinetics Pharmaceuticals by 2.0% in the third quarter. Arizona State Retirement System now owns 26,300 shares of the company’s stock worth $1,095,000 after buying an additional 504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Crinetics Pharmaceuticals by 16.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock worth $104,000 after buying an additional 505 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Crinetics Pharmaceuticals by 6.1% during the second quarter. E Fund Management Co. Ltd. now owns 10,131 shares of the company’s stock worth $291,000 after buying an additional 586 shares during the period. Finally, Assetmark Inc. boosted its position in Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. Assetmark Inc. now owns 18,667 shares of the company’s stock valued at $537,000 after acquiring an additional 603 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRNX. Citizens Jmp reduced their price target on Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating for the company in a research report on Thursday, January 8th. The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday, January 12th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Morgan Stanley lifted their price objective on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the transaction, the insider directly owned 66,270 shares of the company’s stock, valued at $2,827,078.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the completion of the transaction, the insider owned 834 shares of the company’s stock, valued at $45,870. This trade represents a 74.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Down 3.7%

Shares of Crinetics Pharmaceuticals stock opened at $49.94 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of -11.02 and a beta of 0.20. The company has a 50 day moving average price of $49.64 and a 200 day moving average price of $41.00. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same quarter in the previous year, the company posted ($0.96) earnings per share. As a group, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.