Braun Stacey Associates Inc. Purchases Shares of 324,808 Crinetics Pharmaceuticals, Inc. $CRNX

Braun Stacey Associates Inc. acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 324,808 shares of the company’s stock, valued at approximately $11,797,000. Braun Stacey Associates Inc. owned 0.31% of Crinetics Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CRNX. Parkman Healthcare Partners LLC raised its holdings in Crinetics Pharmaceuticals by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock valued at $3,071,000 after acquiring an additional 313 shares in the last quarter. Parallel Advisors LLC grew its holdings in Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Crinetics Pharmaceuticals by 5.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,952 shares of the company’s stock worth $248,000 after acquiring an additional 327 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Crinetics Pharmaceuticals by 6.3% in the 4th quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock valued at $280,000 after purchasing an additional 348 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, June 15th. Citizens Jmp restated a “market outperform” rating and issued a $95.00 price target on shares of Crinetics Pharmaceuticals in a research note on Thursday, June 11th. Wall Street Zen raised Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Oppenheimer lowered their price objective on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $76.12.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Jeff E. Knight sold 85,163 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $40.10, for a total value of $3,415,036.30. Following the completion of the sale, the insider directly owned 105,289 shares of the company’s stock, valued at approximately $4,222,088.90. The trade was a 44.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $35.67, for a total value of $246,123.00. Following the completion of the sale, the director directly owned 6,400 shares of the company’s stock, valued at approximately $228,288. This trade represents a 51.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 4.9%

CRNX stock opened at $36.70 on Friday. The stock has a market cap of $3.87 billion, a P/E ratio of -7.15 and a beta of 0.24. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.83 and a twelve month high of $57.99. The company’s 50 day moving average is $36.71 and its two-hundred day moving average is $41.93.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. During the same quarter in the previous year, the company posted ($1.04) EPS. The company’s quarterly revenue was up 2873.4% on a year-over-year basis. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current year.

Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.