Hennion & Walsh Asset Management Inc. Sells 745 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Hennion & Walsh Asset Management Inc. decreased its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,090 shares of the company’s stock after selling 745 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Crinetics Pharmaceuticals were worth $2,050,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRNX. Values First Advisors Inc. bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at about $91,000. KBC Group NV raised its holdings 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 purchasing an additional 407 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after purchasing an additional 464 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after purchasing an additional 1,008 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Finally, Citigroup boosted their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $74.40.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 2.4 %

NASDAQ:CRNX opened at $37.35 on Friday. The firm has a 50 day moving average of $52.86 and a 200 day moving average of $52.94. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -10.01 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 52 week low of $35.24 and a 52 week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period last year, the firm earned ($1.01) EPS. As a group, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

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.