Calamos Advisors LLC boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 46.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 42,336 shares of the company’s stock after buying an additional 13,336 shares during the quarter. Calamos Advisors LLC’s holdings in Crinetics Pharmaceuticals were worth $1,896,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after acquiring an additional 1,434,909 shares in the last quarter. Artal Group S.A. purchased a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at about $65,088,000. Price T Rowe Associates Inc. MD lifted its position in shares of Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock valued at $178,966,000 after acquiring an additional 814,360 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $16,011,000. Finally, First Light Asset Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock valued at $70,725,000 after acquiring an additional 404,443 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, COO Jeff E. Knight sold 27,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $55.00, for a total value of $1,485,000.00. Following the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at $2,840,915. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Jeff E. Knight sold 27,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $55.00, for a total value of $1,485,000.00. Following the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at $2,840,915. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marc Wilson sold 19,056 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.88, for a total value of $1,026,737.28. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,985,636.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,016 shares of company stock valued at $8,320,842. 6.00% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on CRNX
Crinetics Pharmaceuticals Stock Performance
CRNX opened at $53.15 on Monday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -14.06 and a beta of 0.68. The stock’s 50 day moving average price is $49.74 and its 200-day moving average price is $46.19. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $55.78.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. The business’s revenue was down 59.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.94) earnings per share. As a group, analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.54 earnings per share for the current fiscal year.
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.
Further Reading
- Five stocks we like better than Crinetics Pharmaceuticals
- The 3 Best Blue-Chip Stocks to Buy Now
- 3 Stocks Mega Investors Are Buying Right Now
- Compound Interest and Why It Matters When Investing
- UiPath: Has the Bar Been Set Too Low for This AI Robotic Leader?
- 5 discounted opportunities for dividend growth investors
- Advanced Auto Parts Stock May be Cheap for a Reason
Want to see what other hedge funds are holding CRNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report).
Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.