Hennion & Walsh Asset Management Inc. Grows Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Hennion & Walsh Asset Management Inc. raised its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,087 shares of the company’s stock after purchasing an additional 927 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.05% of Crinetics Pharmaceuticals worth $1,783,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRNX. Jennison Associates LLC grew its stake in shares of Crinetics Pharmaceuticals by 77.7% during the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after buying an additional 1,113,992 shares during the last quarter. Vanguard Group Inc. grew its position in Crinetics Pharmaceuticals by 24.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after acquiring an additional 674,301 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at $13,383,000. Vestal Point Capital LP purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter worth $16,011,000. Finally, First Light Asset Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 25.5% during the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock worth $70,725,000 after purchasing an additional 404,443 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. Oppenheimer upped their target price on shares of Crinetics Pharmaceuticals from $55.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, May 14th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday. Finally, Robert W. Baird raised their price objective on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Insider Transactions at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 40,951 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $49.17, for a total transaction of $2,013,560.67. Following the completion of the sale, the chief executive officer now owns 237,835 shares of the company’s stock, valued at $11,694,346.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Richard Scott Struthers sold 40,951 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $49.17, for a total transaction of $2,013,560.67. Following the transaction, the chief executive officer now directly owns 237,835 shares of the company’s stock, valued at approximately $11,694,346.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen F. Betz sold 3,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $49.43, for a total value of $148,290.00. Following the completion of the sale, the insider now owns 89,643 shares of the company’s stock, valued at $4,431,053.49. The disclosure for this sale can be found here. Insiders have sold a total of 197,230 shares of company stock valued at $9,529,850 in the last 90 days. Insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 3.0 %

Shares of NASDAQ:CRNX opened at $44.79 on Friday. The company has a market capitalization of $3.53 billion, a PE ratio of -11.85 and a beta of 0.64. Crinetics Pharmaceuticals, Inc. has a 12-month low of $15.76 and a 12-month high of $53.70. The business’s fifty day simple moving average is $46.36 and its 200-day simple moving average is $41.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.20 million. Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 42.50%. Crinetics Pharmaceuticals’s revenue for the quarter was down 76.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.85) EPS. Research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.53 EPS for the current year.

Crinetics Pharmaceuticals 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.