Lisanti Capital Growth LLC Sells 25,875 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Lisanti Capital Growth LLC cut its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,700 shares of the company’s stock after selling 25,875 shares during the period. Lisanti Capital Growth LLC owned approximately 0.09% of Crinetics Pharmaceuticals worth $4,228,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Venturi Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at about $41,000. KBC Group NV raised its stake in shares of 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 acquiring an additional 407 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of 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 acquiring an additional 1,008 shares during the last quarter. Commerce Bank bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at about $212,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Crinetics Pharmaceuticals in the third quarter worth about $215,000. 98.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citigroup increased their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating for the company. JMP Securities reissued a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.64.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Up 0.5 %

NASDAQ:CRNX opened at $34.11 on Friday. The company’s 50 day moving average price is $39.98 and its 200-day moving average price is $49.69. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -9.14 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share 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.