American Century Companies Inc. Acquires 90,412 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

American Century Companies Inc. boosted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,298 shares of the company's stock after purchasing an additional 90,412 shares during the quarter. American Century Companies Inc. owned approximately 0.51% of Crinetics Pharmaceuticals worth $24,404,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas boosted its holdings in shares of Crinetics Pharmaceuticals by 42.8% in the 4th quarter. Teacher Retirement System of Texas now owns 24,003 shares of the company's stock valued at $1,227,000 after buying an additional 7,192 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $66,000. Xponance Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 22.8% during the fourth quarter. Xponance Inc. now owns 6,284 shares of the company's stock valued at $321,000 after purchasing an additional 1,168 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Crinetics Pharmaceuticals by 92.9% during the 4th quarter. Intech Investment Management LLC now owns 43,105 shares of the company's stock worth $2,204,000 after purchasing an additional 20,757 shares during the period. Finally, Cibc World Markets Corp bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth approximately $420,000. Institutional investors own 98.51% of the company's stock.

Remove Ads

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now directly owns 72,233 shares of the company's stock, valued at $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the transaction, the chief executive officer now owns 329,147 shares of the company's stock, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock valued at $1,119,263 in the last quarter. Insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CRNX. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 target price for the company. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Crinetics Pharmaceuticals Stock Down 8.0 %

NASDAQ CRNX traded down $2.52 on Thursday, reaching $28.87. 1,152,403 shares of the stock traded hands, compared to its average volume of 834,997. Crinetics Pharmaceuticals, Inc. has a 12 month low of $28.48 and a 12 month high of $62.53. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -7.74 and a beta of 0.37. The firm's fifty day simple moving average is $35.43 and its 200 day simple moving average is $46.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. As a group, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal 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.