Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 16.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,469 shares of the company’s stock after purchasing an additional 770 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Crinetics Pharmaceuticals were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRNX. Oppenheimer Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $215,000. Victory Capital Management Inc. raised its stake in shares of Crinetics Pharmaceuticals by 51.5% in the 3rd quarter. Victory Capital Management Inc. now owns 343,344 shares of the company’s stock valued at $17,545,000 after acquiring an additional 116,657 shares during the period. Lisanti Capital Growth LLC boosted its position in Crinetics Pharmaceuticals by 30.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 108,575 shares of the company’s stock worth $5,548,000 after purchasing an additional 25,195 shares during the period. Assetmark Inc. boosted its position in Crinetics Pharmaceuticals by 13.4% during the 3rd quarter. Assetmark Inc. now owns 17,147 shares of the company’s stock worth $876,000 after purchasing an additional 2,030 shares during the period. Finally, Principal Financial Group Inc. raised its position in Crinetics Pharmaceuticals by 488.5% in the third quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock valued at $3,971,000 after purchasing an additional 64,504 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRNX shares. Oppenheimer reiterated an “outperform” rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright upped their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JMP Securities reaffirmed 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 reaffirmed an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the transaction, the insider now directly owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,410 shares of company stock valued at $2,275,929 in the last quarter. Insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $56.06 on Friday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of -14.95 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a one year low of $30.50 and a one year high of $62.53. The company’s 50-day simple moving average is $55.32 and its 200-day simple moving average is $51.50.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period in the prior year, the company earned ($1.01) earnings per share. As a group, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

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.