Sanders Morris Harris LLC Raises Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Sanders Morris Harris LLC increased its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,100 shares of the company’s stock after purchasing an additional 2,500 shares during the period. Sanders Morris Harris LLC’s holdings in Crinetics Pharmaceuticals were worth $1,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC purchased 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 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $91,000. KBC Group NV grew its holdings in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after buying an additional 407 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after buying an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $36.40 on Thursday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -9.76 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 12 month low of $35.24 and a 12 month high of $62.53. The stock’s 50-day moving average is $53.79 and its 200-day moving average is $53.11.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the previous year, the firm posted ($1.01) EPS. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling

In related news, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the sale, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRNX. Citigroup raised their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $74.40.

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.