Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 38,087 shares of the company’s stock after purchasing an additional 927 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Crinetics Pharmaceuticals were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in shares of Crinetics Pharmaceuticals by 77.7% in the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after purchasing an additional 1,113,992 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 24.7% during the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock worth $101,325,000 after purchasing an additional 674,301 shares during the period. Affinity Asset Advisors LLC purchased a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at $13,383,000. Vestal Point Capital LP acquired a new position in Crinetics Pharmaceuticals in the 4th quarter valued at $16,011,000. Finally, First Light Asset Management LLC increased its stake in Crinetics Pharmaceuticals by 25.5% in the 4th quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock valued at $70,725,000 after buying an additional 404,443 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Stock Performance

CRNX opened at $44.79 on Friday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -11.85 and a beta of 0.64. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $53.70. The business’s fifty day moving average is $46.36 and its two-hundred day moving average is $41.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.09). The business had revenue of $0.64 million during the quarter, compared to analysts’ expectations of $0.20 million. Crinetics Pharmaceuticals had a negative return on equity of 42.50% and a negative net margin of 4,223.27%. Crinetics Pharmaceuticals’s quarterly revenue was down 76.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.85) earnings per share. On average, analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.53 EPS for the current fiscal year.

Analysts Set New Price Targets

CRNX has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday. Oppenheimer lifted their price objective on Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. Robert W. Baird lifted their price target on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Citigroup assumed coverage on Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They set a “buy” rating and a $68.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $62.50.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the transaction, the insider now directly owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the transaction, the insider now directly owns 27,786 shares in the company, valued at approximately $1,235,643.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James Hassard sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $44.66, for a total transaction of $669,900.00. Following the sale, the insider now owns 29,259 shares in the company, valued at approximately $1,306,706.94. The disclosure for this sale can be found here. Insiders have sold 197,230 shares of company stock valued at $9,529,850 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

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.