Calamos Advisors LLC Sells 27,156 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Calamos Advisors LLC cut its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 65.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,402 shares of the company's stock after selling 27,156 shares during the quarter. Calamos Advisors LLC's holdings in Crinetics Pharmaceuticals were worth $736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRNX. FMR LLC lifted its stake in shares of Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company's stock valued at $227,690,000 after purchasing an additional 358,975 shares during the last quarter. State Street Corp boosted its stake in shares of Crinetics Pharmaceuticals by 0.9% during the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company's stock worth $145,047,000 after acquiring an additional 25,561 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Crinetics Pharmaceuticals by 0.5% during the 3rd quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock valued at $142,754,000 after acquiring an additional 13,470 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Crinetics Pharmaceuticals by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after purchasing an additional 169,746 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after purchasing an additional 528,688 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRNX shares. Citigroup lifted their price target 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 Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Wednesday, January 22nd. JMP Securities restated a "market outperform" rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. HC Wainwright restated a "buy" rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a "peer perform" rating for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.64.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the sale, the chief operating officer now owns 51,653 shares in the company, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 5,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction 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 approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Stock Down 4.5 %

Shares of NASDAQ CRNX traded down $1.73 during midday trading on Friday, reaching $36.98. 666,901 shares of the company traded hands, compared to its average volume of 1,144,310. The stock's 50-day simple moving average is $47.41 and its 200-day simple moving average is $51.75. Crinetics Pharmaceuticals, Inc. has a 12 month low of $35.51 and a 12 month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the previous year, the company earned ($1.01) EPS. As a group, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.