Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Short Interest Up 7.4% in February

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNXGet Rating) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, an increase of 7.4% from the February 13th total of 3,390,000 shares. Based on an average daily volume of 407,800 shares, the short-interest ratio is currently 8.9 days.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,126 shares of Crinetics Pharmaceuticals stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $18.00, for a total transaction of $56,268.00. Following the sale, the insider now owns 76,151 shares in the company, valued at $1,370,718. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen F. Betz sold 8,336 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $21.07, for a total value of $175,639.52. Following the sale, the insider now directly owns 67,815 shares in the company, valued at approximately $1,428,862.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen F. Betz sold 3,126 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $18.00, for a total value of $56,268.00. Following the transaction, the insider now owns 76,151 shares of the company’s stock, valued at $1,370,718. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $29,000. High Net Worth Advisory Group LLC bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter worth $39,000. Psagot Value Holdings Ltd. Israel acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $46,000. Bourgeon Capital Management LLC bought a new position in Crinetics Pharmaceuticals in the fourth quarter valued at about $48,000. Finally, Cubist Systematic Strategies LLC increased its position in Crinetics Pharmaceuticals by 70.4% in the second quarter. Cubist Systematic Strategies LLC now owns 8,478 shares of the company’s stock worth $158,000 after purchasing an additional 3,503 shares during the period. 95.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRNX shares. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 1st. JMP Securities cut their target price on shares of Crinetics Pharmaceuticals from $50.00 to $41.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 1st.

Crinetics Pharmaceuticals Stock Up 1.3 %

Crinetics Pharmaceuticals stock opened at $17.42 on Friday. The stock has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $18.56. The stock has a market capitalization of $939.11 million, a price-to-earnings ratio of -5.51 and a beta of 0.97. Crinetics Pharmaceuticals has a 12-month low of $15.37 and a 12-month high of $27.86.

Crinetics Pharmaceuticals Company Profile

(Get Rating)

Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.

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