Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.5% during the third quarter, HoldingsChannel.com reports. The fund owned 17,144 shares of the company’s stock after selling 807 shares during the quarter. Glenmede Trust Co. NA’s holdings in Crinetics Pharmaceuticals were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at $33,000. Quest Partners LLC acquired a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at about $42,000. Values First Advisors Inc. purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC acquired a new position in Crinetics Pharmaceuticals during the third quarter worth about $91,000. Finally, KBC Group NV lifted its holdings in shares of Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $57.39 on Tuesday. The company has a market cap of $5.32 billion, a P/E ratio of -15.39 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 12 month low of $32.22 and a 12 month high of $62.53. The company has a 50-day moving average of $55.73 and a 200-day moving average of $51.88.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the previous year, the business earned ($1.01) EPS. As a group, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Insider Transactions at Crinetics Pharmaceuticals

In related news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This represents a 18.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,911 shares of company stock worth $2,144,675 in the last ninety days. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright raised their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup raised their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Oppenheimer restated an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

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.