Lisanti Capital Growth LLC Purchases New Position in Crinetics Pharmaceuticals, Inc. $CRNX

Lisanti Capital Growth LLC purchased a new stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 22,890 shares of the company’s stock, valued at approximately $953,000.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Crinetics Pharmaceuticals in the second quarter valued at $30,000. Farther Finance Advisors LLC grew its stake in shares of Crinetics Pharmaceuticals by 523.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after buying an additional 707 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter worth about $45,000. Penserra Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter worth about $48,000. Finally, Covestor Ltd raised its position in shares of Crinetics Pharmaceuticals by 23,983.3% during the 3rd quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after buying an additional 1,439 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Trading Down 3.7%

NASDAQ:CRNX opened at $49.94 on Friday. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -11.02 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $57.99. The stock has a fifty day simple moving average of $49.64 and a 200-day simple moving average of $41.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same quarter in the previous year, the company earned ($0.96) earnings per share. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on CRNX. The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Citizens Jmp lowered their price target on Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating for the company in a research report on Thursday, January 8th. Finally, Morgan Stanley boosted their price objective on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Crinetics Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $82.50.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the transaction, the insider directly owned 834 shares of the company’s stock, valued at approximately $45,870. This trade represents a 74.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the sale, the insider owned 66,270 shares of the company’s stock, valued at $2,827,078.20. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.