Sanders Morris Harris LLC Acquires New Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Sanders Morris Harris LLC acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 18,600 shares of the company’s stock, valued at approximately $336,000.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Crinetics Pharmaceuticals by 109.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock valued at $31,000 after purchasing an additional 1,009 shares during the period. Bourgeon Capital Management LLC boosted its holdings in Crinetics Pharmaceuticals by 56.6% in the 1st quarter. Bourgeon Capital Management LLC now owns 4,150 shares of the company’s stock valued at $67,000 after purchasing an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Crinetics Pharmaceuticals by 8.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,868 shares of the company’s stock valued at $126,000 after purchasing an additional 627 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Crinetics Pharmaceuticals by 70.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,478 shares of the company’s stock valued at $158,000 after purchasing an additional 3,503 shares during the period. Finally, Group One Trading L.P. boosted its holdings in Crinetics Pharmaceuticals by 31.6% in the 1st quarter. Group One Trading L.P. now owns 7,318 shares of the company’s stock valued at $161,000 after purchasing an additional 1,759 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 24,384 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $20.14, for a total value of $491,093.76. Following the transaction, the chief executive officer now owns 656,421 shares in the company, valued at $13,220,318.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 30,922 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $19.97, for a total value of $617,512.34. Following the transaction, the chief financial officer now owns 95,158 shares in the company, valued at $1,900,305.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Scott Struthers sold 24,384 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $20.14, for a total transaction of $491,093.76. Following the completion of the transaction, the chief executive officer now owns 656,421 shares in the company, valued at approximately $13,220,318.94. The disclosure for this sale can be found here. Insiders sold 69,463 shares of company stock valued at $1,396,701 over the last three months. Insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CRNX. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, August 22nd. Oppenheimer lifted their price objective on shares of Crinetics Pharmaceuticals from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, September 11th. JMP Securities dropped their price objective on shares of Crinetics Pharmaceuticals from $43.00 to $42.00 and set a “market outperform” rating for the company in a report on Wednesday, August 9th. Robert W. Baird lifted their price objective on shares of Crinetics Pharmaceuticals from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 11th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Buy” and an average target price of $45.00.

Crinetics Pharmaceuticals Stock Up 0.7 %

Crinetics Pharmaceuticals stock opened at $29.49 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of -8.65 and a beta of 0.85. The firm has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $19.12. Crinetics Pharmaceuticals, Inc. has a twelve month low of $15.23 and a twelve month high of $31.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.09). The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $5.00 million. Crinetics Pharmaceuticals had a negative return on equity of 61.19% and a negative net margin of 3,804.10%. As a group, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.68 earnings per share for the current fiscal year.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for endocrine diseases and endocrine-related tumors. The company's lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).