Lisanti Capital Growth LLC Increases Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Lisanti Capital Growth LLC boosted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 30.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,575 shares of the company's stock after purchasing an additional 25,195 shares during the quarter. Crinetics Pharmaceuticals comprises approximately 1.4% of Lisanti Capital Growth LLC's holdings, making the stock its 18th largest position. Lisanti Capital Growth LLC owned about 0.14% of Crinetics Pharmaceuticals worth $5,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Crinetics Pharmaceuticals by 13.4% in the third quarter. Assetmark Inc. now owns 17,147 shares of the company's stock worth $876,000 after purchasing an additional 2,030 shares during the period. Principal Financial Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 488.5% in the 3rd quarter. Principal Financial Group Inc. now owns 77,709 shares of the company's stock valued at $3,971,000 after buying an additional 64,504 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Crinetics Pharmaceuticals by 3.4% during the 3rd quarter. US Bancorp DE now owns 11,488 shares of the company's stock worth $587,000 after acquiring an additional 373 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Crinetics Pharmaceuticals by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company's stock valued at $787,000 after acquiring an additional 6,128 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Crinetics Pharmaceuticals by 23.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $147,000 after acquiring an additional 541 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. JMP Securities reiterated a "market outperform" rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Finally, Oppenheimer restated an "outperform" rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.55.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 14,375 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total value of $785,306.25. Following the transaction, the insider now directly owns 28,507 shares of the company's stock, valued at $1,557,337.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Stephen F. Betz sold 3,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $53.19, for a total transaction of $159,570.00. Following the transaction, the insider now owns 69,611 shares in the company, valued at approximately $3,702,609.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dana Pizzuti sold 14,375 shares of the business's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the completion of the sale, the insider now directly owns 28,507 shares of the company's stock, valued at $1,557,337.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,410 shares of company stock valued at $2,275,929. 6.00% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded down $0.41 during mid-day trading on Monday, reaching $60.28. 408,942 shares of the company were exchanged, compared to its average volume of 781,309. The business has a 50 day simple moving average of $54.31 and a two-hundred day simple moving average of $50.79. Crinetics Pharmaceuticals, Inc. has a 52 week low of $25.91 and a 52 week high of $62.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the prior year, the company posted ($0.94) earnings per share. The business's revenue was down 59.6% on a year-over-year basis. As a group, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Crinetics Pharmaceuticals Company 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.