Barclays PLC Acquires 89,358 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Barclays PLC raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 75.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,712 shares of the company's stock after buying an additional 89,358 shares during the quarter. Barclays PLC owned 0.22% of Crinetics Pharmaceuticals worth $10,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals during the 1st quarter worth $33,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 41,344 shares of the company's stock valued at $1,852,000 after purchasing an additional 3,257 shares in the last quarter. Calamos Advisors LLC grew its position in shares of Crinetics Pharmaceuticals by 46.0% in the 2nd quarter. Calamos Advisors LLC now owns 42,336 shares of the company's stock valued at $1,896,000 after purchasing an additional 13,336 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Crinetics Pharmaceuticals by 30.3% in the second quarter. Bank of New York Mellon Corp now owns 386,450 shares of the company's stock valued at $17,309,000 after buying an additional 89,972 shares during the period. Finally, Legato Capital Management LLC increased its position in shares of Crinetics Pharmaceuticals by 92.5% during the second quarter. Legato Capital Management LLC now owns 19,015 shares of the company's stock worth $852,000 after acquiring an additional 9,135 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the completion of the sale, the insider now owns 28,507 shares of the company's stock, valued at approximately $1,557,337.41. The trade was a 33.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,677,912.12. This represents a 18.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,876 shares of company stock worth $2,091,373 over the last 90 days. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Up 1.4 %

Shares of NASDAQ:CRNX traded up $0.74 during midday trading on Tuesday, hitting $55.37. The stock had a trading volume of 1,032,585 shares, compared to its average volume of 773,169. The business's 50-day simple moving average is $56.91 and its 200-day simple moving average is $52.51. Crinetics Pharmaceuticals, Inc. has a 12 month low of $32.92 and a 12 month high of $62.53. The company has a market cap of $5.13 billion, a P/E ratio of -14.84 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the prior year, the business posted ($1.01) EPS. As a group, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright boosted their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Citigroup increased their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.82.

About Crinetics Pharmaceuticals

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.