Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Holdings Trimmed by Calamos Advisors LLC

Calamos Advisors LLC reduced its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 65.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,402 shares of the company’s stock after selling 27,156 shares during the period. Calamos Advisors LLC’s holdings in Crinetics Pharmaceuticals were worth $736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC bought a new stake in Crinetics Pharmaceuticals during the third quarter valued at $91,000. KBC Group NV increased its stake in Crinetics Pharmaceuticals by 22.8% during 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 during the last quarter. Advisors Asset Management Inc. increased its stake in Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Crinetics Pharmaceuticals by 23.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $147,000 after buying an additional 541 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of recent research reports. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday. They set a “peer perform” rating for the company. Citigroup upped their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities restated a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $72.64.

Crinetics Pharmaceuticals Stock Down 2.7 %

Shares of CRNX opened at $39.30 on Thursday. The firm has a 50-day moving average price of $48.19 and a 200 day moving average price of $51.98. The firm has a market capitalization of $3.64 billion, a PE ratio of -10.54 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 52-week low of $35.51 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the company posted ($1.01) EPS. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the transaction, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares of the company’s stock, valued at $2,919,427.56. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.