SG Americas Securities LLC Decreases Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

SG Americas Securities LLC lessened its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522,266 shares of the company’s stock after selling 20,180 shares during the quarter. SG Americas Securities LLC’s holdings in Crinetics Pharmaceuticals were worth $17,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Crinetics Pharmaceuticals by 6.3% in the 1st quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock worth $4,426,000 after acquiring an additional 7,872 shares during the period. GAMMA Investing LLC boosted its holdings in Crinetics Pharmaceuticals by 6,291.5% in the 1st quarter. GAMMA Investing LLC now owns 6,775 shares of the company’s stock worth $227,000 after acquiring an additional 6,669 shares during the period. California State Teachers Retirement System boosted its holdings in Crinetics Pharmaceuticals by 18.8% in the 4th quarter. California State Teachers Retirement System now owns 76,264 shares of the company’s stock worth $3,899,000 after acquiring an additional 12,072 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Crinetics Pharmaceuticals in the 4th quarter worth approximately $17,117,000. Finally, Mackenzie Financial Corp boosted its holdings in Crinetics Pharmaceuticals by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company’s stock worth $277,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now directly owns 72,233 shares of the company’s stock, valued at approximately $2,470,368.60. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,015 shares of company stock valued at $923,913. Corporate insiders own 4.60% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 2.5%

Shares of CRNX opened at $33.08 on Wednesday. The business’s 50 day moving average is $30.77 and its two-hundred day moving average is $38.45. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -8.87 and a beta of 0.28.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.10 million. The company’s quarterly revenue was down 43.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.93) earnings per share. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRNX has been the subject of a number of analyst reports. Stifel Nicolaus began coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 price target for the company. TD Cowen began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.56.

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.