Moody Aldrich Partners LLC Sells 11,053 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Moody Aldrich Partners LLC lessened its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,130 shares of the company's stock after selling 11,053 shares during the quarter. Crinetics Pharmaceuticals accounts for 1.3% of Moody Aldrich Partners LLC's portfolio, making the stock its 23rd biggest holding. Moody Aldrich Partners LLC owned 0.18% of Crinetics Pharmaceuticals worth $7,110,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank bought a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at $33,000. Quest Partners LLC purchased a new position in Crinetics Pharmaceuticals during the second quarter valued at $42,000. Allspring Global Investments Holdings LLC bought a new stake in Crinetics Pharmaceuticals during the third quarter valued at about $91,000. Amalgamated Bank increased its position in Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company's stock worth $121,000 after buying an additional 464 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Crinetics Pharmaceuticals in the first quarter worth about $200,000. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Up 0.6 %

NASDAQ CRNX traded up $0.34 during trading on Thursday, hitting $58.74. 398,312 shares of the stock traded hands, compared to its average volume of 796,877. Crinetics Pharmaceuticals, Inc. has a 12-month low of $25.75 and a 12-month high of $60.04. The firm has a 50-day simple moving average of $53.36 and a 200-day simple moving average of $49.71. The company has a market capitalization of $4.63 billion, a P/E ratio of -15.54 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its 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 company 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.94) earnings per share. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of the 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 transaction, the insider now owns 28,507 shares of the company's stock, valued at approximately $1,557,337.41. 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 accessible through this hyperlink. In related news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now owns 28,507 shares in the company, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals 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 transaction, the chief financial officer now directly owns 111,092 shares of the company's stock, valued at $5,677,912.12. The trade was 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 43,410 shares of company stock worth $2,275,929 in the last three months. Insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

CRNX has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Piper Sandler reissued an "overweight" rating and issued a $97.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 2nd. 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 note on Friday, August 9th. HC Wainwright increased their price target on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. One investment 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 currently has an average rating of "Moderate Buy" and a consensus price target of $68.55.

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.