Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Position Reduced by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC cut its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 23.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 82,700 shares of the company's stock after selling 25,875 shares during the period. Lisanti Capital Growth LLC owned 0.09% of Crinetics Pharmaceuticals worth $4,228,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CRNX. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals in the fourth quarter valued at $41,000. KBC Group NV increased its stake in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after acquiring an additional 407 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 56.1% during the 3rd 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 acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth approximately $212,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Crinetics Pharmaceuticals in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CRNX. JMP Securities reiterated a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. HC Wainwright reissued a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. Finally, TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.64.

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Crinetics Pharmaceuticals Stock Up 1.5 %

Shares of Crinetics Pharmaceuticals stock traded up $0.51 on Tuesday, hitting $34.26. 1,001,808 shares of the company's stock traded hands, compared to its average volume of 1,029,089. Crinetics Pharmaceuticals, Inc. has a 52-week low of $31.84 and a 52-week high of $62.53. The stock has a market cap of $3.19 billion, a P/E ratio of -9.18 and a beta of 0.58. The firm's 50-day moving average is $38.87 and its 200 day moving average is $49.25.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was 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 owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is owned by corporate insiders.

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.