Hennion & Walsh Asset Management Inc. Has $2.09 Million Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 40,835 shares of the company’s stock after selling 509 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Crinetics Pharmaceuticals were worth $2,087,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CRNX. Janus Henderson Group PLC lifted its holdings in Crinetics Pharmaceuticals by 264.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock worth $92,526,000 after buying an additional 1,434,909 shares in the last quarter. Artal Group S.A. acquired a new position in shares of Crinetics Pharmaceuticals during the first quarter valued at $65,088,000. Driehaus Capital Management LLC boosted its holdings in Crinetics Pharmaceuticals by 17.0% in the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after acquiring an additional 885,876 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 during the last quarter. Finally, Farallon Capital Management LLC increased its position in Crinetics Pharmaceuticals by 9,840.0% in the second quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock worth $22,261,000 after purchasing an additional 492,000 shares during the period. 98.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Stephen F. Betz sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $53.19, for a total value of $159,570.00. Following the completion of the transaction, the insider now owns 69,611 shares in the company, valued at $3,702,609.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $53.19, for a total value of $159,570.00. Following the sale, the insider now directly owns 69,611 shares of the company’s stock, valued at approximately $3,702,609.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,410 shares of company stock worth $2,275,929. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 1.3 %

CRNX stock opened at $57.96 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $25.75 and a 1-year high of $60.04. The firm has a market cap of $4.57 billion, a PE ratio of -15.33 and a beta of 0.63. The business’s 50-day moving average price is $53.49 and its two-hundred day moving average price is $49.79.

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. During the same quarter in the previous year, the business earned ($0.94) EPS. Crinetics Pharmaceuticals’s quarterly revenue was down 59.6% compared to the same quarter last year. On average, analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of research reports. HC Wainwright upped their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer restated an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.55.

About Crinetics Pharmaceuticals

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.