Bryce Point Capital LLC Takes $1.16 Million Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Bryce Point Capital LLC bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,686 shares of the company's stock, valued at approximately $1,160,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Crinetics Pharmaceuticals by 44.6% in the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after acquiring an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP boosted its position in Crinetics Pharmaceuticals by 55.9% during the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock worth $355,382,000 after purchasing an additional 2,490,876 shares during the period. SG Americas Securities LLC boosted its position in Crinetics Pharmaceuticals by 4,084.6% during the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock worth $27,735,000 after purchasing an additional 529,483 shares during the period. Franklin Resources Inc. increased its stake in shares of Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after purchasing an additional 528,688 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock valued at $107,339,000 after purchasing an additional 250,708 shares during the period. 98.51% of the stock is currently owned by institutional investors.

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Crinetics Pharmaceuticals Stock Performance

CRNX stock traded up $0.44 during trading on Tuesday, hitting $26.82. 373,937 shares of the company traded hands, compared to its average volume of 836,120. The company has a 50-day moving average of $34.95 and a 200-day moving average of $46.52. The firm has a market capitalization of $2.50 billion, a PE ratio of -7.20 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.71 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. Sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a "peer perform" rating for the company. HC Wainwright reissued a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares in the company, valued at $2,992,192.20. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,015 shares of company stock worth $1,119,263. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Company 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.