Dimensional Fund Advisors LP Sells 94,043 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Dimensional Fund Advisors LP lowered its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,759 shares of the company's stock after selling 94,043 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.69% of Crinetics Pharmaceuticals worth $24,487,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in shares of Crinetics Pharmaceuticals in the 1st quarter worth approximately $33,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 38,087 shares of the company's stock worth $1,783,000 after purchasing an additional 927 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at $42,000. Arizona State Retirement System raised its holdings in shares of Crinetics Pharmaceuticals by 5.4% in the second quarter. Arizona State Retirement System now owns 18,543 shares of the company's stock valued at $831,000 after buying an additional 958 shares during the last quarter. Finally, Quarry LP bought a new stake in Crinetics Pharmaceuticals during the 4th quarter worth about $36,000. 98.51% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Jeff E. Knight sold 27,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $55.00, for a total value of $1,485,000.00. Following the sale, the chief operating officer now owns 51,653 shares of the company's stock, valued at approximately $2,840,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Jeff E. Knight sold 27,000 shares of the firm's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief operating officer now owns 51,653 shares in the company, valued at $2,840,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,091 shares of company stock worth $5,683,300 over the last three months. Corporate insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Oppenheimer reissued an "outperform" rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, July 9th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, HC Wainwright boosted their price target on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $68.55.

Crinetics Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ CRNX traded up $0.37 during mid-day trading on Friday, reaching $53.14. 394,974 shares of the company's stock were exchanged, compared to its average volume of 779,882. The business has a fifty day simple moving average of $51.98 and a 200 day simple moving average of $48.61. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.35 and a twelve month high of $55.78. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -13.96 and a beta of 0.63.

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