Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Get Rating) insider Stephen F. Betz sold 3,126 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $19.64, for a total value of $61,394.64. Following the completion of the sale, the insider now owns 97,472 shares of the company's stock, valued at $1,914,350.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crinetics Pharmaceuticals Price Performance
Crinetics Pharmaceuticals stock traded down $0.61 during midday trading on Wednesday, reaching $18.44. The company's stock had a trading volume of 199,486 shares, compared to its average volume of 285,811. The stock's 50-day simple moving average is $20.33 and its 200-day simple moving average is $20.11. Crinetics Pharmaceuticals, Inc. has a 52-week low of $15.91 and a 52-week high of $28.95. The stock has a market capitalization of $991.21 million, a P/E ratio of -6.24 and a beta of 1.10.
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Institutional Investors Weigh In On Crinetics Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC raised its stake in Crinetics Pharmaceuticals by 10.7% in the second quarter. Driehaus Capital Management LLC now owns 5,474,459 shares of the company's stock valued at $102,099,000 after buying an additional 530,446 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 0.6% in the first quarter. BlackRock Inc. now owns 3,296,780 shares of the company's stock valued at $72,365,000 after purchasing an additional 20,610 shares during the period. Bain Capital Life Sciences Investors LLC increased its holdings in shares of Crinetics Pharmaceuticals by 13.6% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 2,305,558 shares of the company's stock valued at $42,999,000 after purchasing an additional 275,857 shares during the period. State Street Corp increased its holdings in shares of Crinetics Pharmaceuticals by 3.5% in the second quarter. State Street Corp now owns 1,760,845 shares of the company's stock valued at $32,840,000 after purchasing an additional 60,166 shares during the period. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at about $31,055,000. 94.42% of the stock is currently owned by hedge funds and other institutional investors.
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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