Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC lowered its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 45.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,623 shares of the company’s stock after selling 63,752 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.08% of Crinetics Pharmaceuticals worth $3,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of Crinetics Pharmaceuticals by 11.1% during the first quarter. California State Teachers Retirement System now owns 64,292 shares of the company’s stock worth $3,010,000 after buying an additional 6,421 shares during the period. Comerica Bank acquired a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at about $33,000. SG Americas Securities LLC raised its stake in shares of Crinetics Pharmaceuticals by 1,224.8% in the second quarter. SG Americas Securities LLC now owns 79,051 shares of the company’s stock worth $3,541,000 after purchasing an additional 73,084 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 41,344 shares of the company’s stock worth $1,852,000 after purchasing an additional 3,257 shares during the period. Finally, Calamos Advisors LLC boosted its position in Crinetics Pharmaceuticals by 46.0% in the second quarter. Calamos Advisors LLC now owns 42,336 shares of the company’s stock valued at $1,896,000 after buying an additional 13,336 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CRNX shares. HC Wainwright upped their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Finally, Citigroup raised their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.18.

Crinetics Pharmaceuticals Stock Performance

CRNX stock opened at $56.59 on Wednesday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $32.22 and a fifty-two week high of $62.53. The company’s 50 day moving average price is $56.01 and its 200 day moving average price is $51.95. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -15.17 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter last year, the firm posted ($1.01) earnings per share. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the transaction, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the sale, the insider now owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,911 shares of company stock worth $2,144,675. Insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals 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.