Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,687 shares of the company’s stock after selling 30,458 shares during the quarter. Victory Capital Management Inc. owned approximately 0.29% of Crinetics Pharmaceuticals worth $10,153,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp boosted its stake in Crinetics Pharmaceuticals by 1.0% during the 2nd quarter. Fiera Capital Corp now owns 480,409 shares of the company’s stock worth $21,518,000 after purchasing an additional 4,899 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Crinetics Pharmaceuticals by 3.3% in the second quarter. Rhumbline Advisers now owns 112,319 shares of the company’s stock worth $5,031,000 after buying an additional 3,626 shares in the last quarter. Natixis Advisors LLC boosted its position in Crinetics Pharmaceuticals by 18.4% during the second quarter. Natixis Advisors LLC now owns 32,476 shares of the company’s stock worth $1,455,000 after acquiring an additional 5,052 shares during the last quarter. Lisanti Capital Growth LLC grew its stake in Crinetics Pharmaceuticals by 20.4% during the 2nd quarter. Lisanti Capital Growth LLC now owns 83,380 shares of the company’s stock valued at $3,735,000 after acquiring an additional 14,155 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Crinetics Pharmaceuticals by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 546,234 shares of the company’s stock valued at $24,466,000 after purchasing an additional 3,526 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jeff E. Knight sold 27,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief operating officer now owns 51,653 shares in the company, valued at approximately $2,840,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Jeff E. Knight sold 27,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,840,915. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marc Wilson sold 32,129 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $43.61, for a total value of $1,401,145.69. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $4,844,722.12. The disclosure for this sale can be found here. Insiders sold 168,051 shares of company stock valued at $8,259,664 in the last three months. 6.00% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $53.80 on Friday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $55.78. The company has a 50 day moving average price of $52.09 and a 200 day moving average price of $47.67. The stock has a market capitalization of $4.31 billion, a P/E ratio of -14.23 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same period in the previous year, the company earned ($0.94) earnings per share. The firm’s revenue for the quarter was down 59.6% compared to the same quarter last year. On average, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Oppenheimer restated an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright increased their price objective on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Robert W. Baird lifted their target price on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

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.