Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Rating) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,900,000 shares, a growth of 9.9% from the August 31st total of 3,550,000 shares. Based on an average daily volume of 277,600 shares, the days-to-cover ratio is currently 14.0 days.

Insiders Place Their Bets

In other news, insider Stephen F. Betz sold 4,168 shares of Crinetics Pharmaceuticals stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $21.01, for a total value of $87,569.68. Following the transaction, the insider now directly owns 100,598 shares in the company, valued at approximately $2,113,563.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Stephen F. Betz sold 4,168 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $21.01, for a total value of $87,569.68. Following the completion of the transaction, the insider now owns 100,598 shares of the company's stock, valued at approximately $2,113,563.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 5,700 shares of the company's stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $20.96, for a total value of $119,472.00. Following the completion of the transaction, the director now directly owns 12,536 shares of the company's stock, valued at approximately $262,754.56. The disclosure for this sale can be found here. Insiders have sold 12,062 shares of company stock worth $252,770 in the last ninety days. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crinetics Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its position in Crinetics Pharmaceuticals by 2.6% in the 1st quarter. Federated Hermes Inc. now owns 25,482 shares of the company's stock worth $559,000 after purchasing an additional 646 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Crinetics Pharmaceuticals by 9.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 11,300 shares of the company's stock valued at $215,000 after acquiring an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Crinetics Pharmaceuticals by 17.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,493 shares of the company's stock valued at $164,000 after buying an additional 1,110 shares in the last quarter. American International Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 7.6% in the second quarter. American International Group Inc. now owns 24,630 shares of the company's stock worth $459,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Group One Trading L.P. increased its stake in Crinetics Pharmaceuticals by 31.6% in the first quarter. Group One Trading L.P. now owns 7,318 shares of the company's stock valued at $161,000 after purchasing an additional 1,759 shares in the last quarter. Institutional investors and hedge funds own 94.42% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals Company Profile

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Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is Paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist that has completed phase III clinical trial for the treatment of acromegaly, as well as completed phase II clinical trial to treat carcinoid syndrome and nonfunctional neuroendocrine tumors (NETs).

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