Jane Street Group LLC Sells 5,588 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Jane Street Group LLC lessened its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,592 shares of the company’s stock after selling 5,588 shares during the period. Jane Street Group LLC’s holdings in Crinetics Pharmaceuticals were worth $6,622,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in shares of Crinetics Pharmaceuticals in the first quarter worth $33,000. Hennion & Walsh Asset Management Inc. grew its position in Crinetics Pharmaceuticals by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 41,344 shares of the company’s stock valued at $1,852,000 after purchasing an additional 3,257 shares during the last quarter. Calamos Advisors LLC increased its stake in Crinetics Pharmaceuticals by 46.0% during the 2nd quarter. Calamos Advisors LLC now owns 42,336 shares of the company’s stock valued at $1,896,000 after purchasing an additional 13,336 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Crinetics Pharmaceuticals by 30.3% in the second quarter. Bank of New York Mellon Corp now owns 386,450 shares of the company’s stock worth $17,309,000 after buying an additional 89,972 shares during the last quarter. Finally, Legato Capital Management LLC lifted its stake in shares of Crinetics Pharmaceuticals by 92.5% in the second quarter. Legato Capital Management LLC now owns 19,015 shares of the company’s stock worth $852,000 after buying an additional 9,135 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In other news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the sale, the chief financial officer now owns 111,092 shares in the company, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeff E. Knight sold 501 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,876 shares of company stock valued at $2,091,373. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Citigroup boosted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. HC Wainwright increased their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $70.18.

Crinetics Pharmaceuticals Stock Down 3.5 %

Shares of CRNX opened at $53.66 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $32.92 and a 52 week high of $62.53. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -14.39 and a beta of 0.60. The business has a 50-day simple moving average of $56.85 and a two-hundred day simple moving average of $52.40.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released 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 period in the prior year, the company posted ($1.01) EPS. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal 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.