Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Holdings Boosted by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC boosted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 100.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,245 shares of the company’s stock after acquiring an additional 50,265 shares during the period. Lisanti Capital Growth LLC owned about 0.15% of Crinetics Pharmaceuticals worth $3,567,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CRNX. AJOVista LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $58,000. Fisher Asset Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 718.6% during the fourth quarter. Fisher Asset Management LLC now owns 440,893 shares of the company’s stock valued at $15,687,000 after acquiring an additional 387,033 shares during the period. Victory Capital Management Inc. increased its stake in shares of Crinetics Pharmaceuticals by 309.2% during the fourth quarter. Victory Capital Management Inc. now owns 184,107 shares of the company’s stock valued at $6,551,000 after acquiring an additional 139,117 shares during the period. RWA Wealth Partners LLC acquired a new position in Crinetics Pharmaceuticals in the fourth quarter worth approximately $203,000. Finally, Jennison Associates LLC grew its position in Crinetics Pharmaceuticals by 77.7% in the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock worth $90,647,000 after buying an additional 1,113,992 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO Marc Wilson sold 6,942 shares of Crinetics Pharmaceuticals stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total value of $297,881.22. Following the transaction, the chief financial officer now owns 110,630 shares in the company, valued at approximately $4,747,133.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Dana Pizzuti sold 15,089 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $44.06, for a total transaction of $664,821.34. Following the transaction, the insider now owns 27,786 shares in the company, valued at approximately $1,224,251.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marc Wilson sold 6,942 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total transaction of $297,881.22. Following the completion of the transaction, the chief financial officer now owns 110,630 shares in the company, valued at $4,747,133.30. The disclosure for this sale can be found here. Insiders have sold 187,216 shares of company stock worth $8,509,397 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Robert W. Baird lifted their price target on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Morgan Stanley started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald raised their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Thursday, March 28th. Finally, Jonestrading raised their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock traded down $0.70 during midday trading on Monday, reaching $46.50. 561,205 shares of the company’s stock traded hands, compared to its average volume of 762,364. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -12.57 and a beta of 0.63. The company’s 50 day simple moving average is $43.99 and its 200 day simple moving average is $37.54. Crinetics Pharmaceuticals, Inc. has a 52 week low of $15.76 and a 52 week high of $49.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.84) EPS. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 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.