Squarepoint Ops LLC lowered its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 21.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,004 shares of the company’s stock after selling 7,179 shares during the quarter. Squarepoint Ops LLC’s holdings in Crinetics Pharmaceuticals were worth $1,210,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CRNX. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals in the 1st quarter worth $33,000. Quest Partners LLC bought a new position in Crinetics Pharmaceuticals in the second quarter valued at about $42,000. Quarry LP purchased a new position in Crinetics Pharmaceuticals in the fourth quarter worth about $36,000. Amalgamated Bank boosted its position in Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after purchasing an additional 464 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at about $200,000. Institutional investors own 98.51% of the company’s stock.
Insider Transactions at Crinetics Pharmaceuticals
In related news, COO Jeff E. Knight sold 27,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,840,915. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Jeff E. Knight sold 27,000 shares of the business’s 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 sale, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,840,915. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.55, for a total value of $145,650.00. Following the transaction, the insider now owns 78,611 shares of the company’s stock, valued at $3,816,564.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,091 shares of company stock valued at $5,683,300. 6.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on CRNX
Crinetics Pharmaceuticals Stock Up 0.7 %
Shares of Crinetics Pharmaceuticals stock opened at $53.14 on Friday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -14.06 and a beta of 0.63. The stock’s 50-day simple moving average is $51.95 and its 200-day simple moving average is $48.74. Crinetics Pharmaceuticals, Inc. has a 52 week low of $25.35 and a 52 week high of $55.78.
Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The company had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the previous year, the company posted ($0.94) earnings per share. The company’s quarterly revenue was down 59.6% compared to the same quarter last year. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.72 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.
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