Dimensional Fund Advisors LP Sells 94,043 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Dimensional Fund Advisors LP decreased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 546,759 shares of the company’s stock after selling 94,043 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Crinetics Pharmaceuticals were worth $24,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CRNX. Janus Henderson Group PLC increased its stake in 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 purchasing an additional 1,434,909 shares in the last quarter. Artal Group S.A. bought a new position in shares of Crinetics Pharmaceuticals during the 1st quarter valued at approximately $65,088,000. Price T Rowe Associates Inc. MD lifted its position in shares of Crinetics Pharmaceuticals by 27.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock valued at $178,966,000 after buying an additional 814,360 shares during the last quarter. Vestal Point Capital LP purchased a new position in shares of Crinetics Pharmaceuticals in the fourth quarter worth about $16,011,000. Finally, First Light Asset Management LLC lifted its holdings in Crinetics Pharmaceuticals by 25.5% during the 4th quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock worth $70,725,000 after purchasing an additional 404,443 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of research reports. HC Wainwright raised their price objective on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Piper Sandler restated an “overweight” rating and set a $97.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $52.77 on Friday. The stock has a fifty day moving average price of $51.99 and a 200 day moving average price of $48.58. The stock has a market cap of $4.16 billion, a PE ratio of -13.96 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a 1 year low of $25.35 and a 1 year high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. Crinetics Pharmaceuticals’s quarterly revenue was down 59.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.94) earnings per share. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $48.55, for a total transaction of $145,650.00. Following the completion of the transaction, the insider now owns 78,611 shares of the company’s stock, valued at $3,816,564.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.55, for a total value of $145,650.00. Following the completion of the sale, the insider now directly owns 78,611 shares in the company, valued at $3,816,564.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeff E. Knight sold 27,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $55.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief operating officer now owns 51,653 shares in the company, valued at $2,840,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,091 shares of company stock worth $5,683,300. 6.00% of the stock is currently owned by corporate insiders.

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.