Lisanti Capital Growth LLC Sells 25,875 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Lisanti Capital Growth LLC cut its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 23.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,700 shares of the company’s stock after selling 25,875 shares during the period. Lisanti Capital Growth LLC’s holdings in Crinetics Pharmaceuticals were worth $4,228,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Crinetics Pharmaceuticals in the fourth quarter worth approximately $41,000. KBC Group NV raised its position in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after acquiring an additional 407 shares during the period. Advisors Asset Management Inc. raised its position in Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock worth $143,000 after acquiring an additional 1,008 shares during the period. Commerce Bank bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at $212,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at $215,000. 98.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares of the company’s stock, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, January 22nd. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. JMP Securities restated a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.64.

Crinetics Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ:CRNX opened at $34.11 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53. The stock has a market capitalization of $3.17 billion, a P/E ratio of -9.14 and a beta of 0.58. The firm has a fifty day simple moving average of $39.98 and a two-hundred day simple moving average of $49.69.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current 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.