Glenmede Trust Co. NA Cuts Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Glenmede Trust Co. NA lessened its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,144 shares of the company’s stock after selling 807 shares during the quarter. Glenmede Trust Co. NA’s holdings in Crinetics Pharmaceuticals were worth $876,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals during the 1st quarter worth approximately $33,000. Quest Partners LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at $42,000. Values First Advisors Inc. purchased a new position in Crinetics Pharmaceuticals in the third quarter valued at $84,000. Allspring Global Investments Holdings LLC acquired a new stake in Crinetics Pharmaceuticals in the 3rd quarter valued at about $91,000. Finally, KBC Group NV boosted its stake in shares of Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after buying an additional 407 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRNX. HC Wainwright raised their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Citigroup increased their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.18.

Crinetics Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ CRNX opened at $57.39 on Tuesday. The stock has a market cap of $5.32 billion, a P/E ratio of -15.39 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a twelve month low of $32.22 and a twelve month high of $62.53. The stock has a 50 day moving average of $55.73 and a two-hundred day moving average of $51.88.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced 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 quarter last year, the business earned ($1.01) EPS. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at $2,919,427.56. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total transaction of $53,302.50. Following the transaction, the insider now owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,911 shares of company stock worth $2,144,675. 6.00% of the stock is owned by company insiders.

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.