73,340 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Bought by Castleark Management LLC

Castleark Management LLC acquired a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 73,340 shares of the company's stock, valued at approximately $3,748,000. Castleark Management LLC owned 0.08% of Crinetics Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Comerica Bank acquired a new position in shares of Crinetics Pharmaceuticals during the first quarter valued at $33,000. Quest Partners LLC acquired a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at about $42,000. Values First Advisors Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $84,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth approximately $91,000. Finally, KBC Group NV lifted its stake in shares of Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock worth $112,000 after acquiring an additional 407 shares during the period. 98.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRNX shares. HC Wainwright boosted their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities reaffirmed a "market outperform" rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Finally, Citigroup lifted their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.18.

Crinetics Pharmaceuticals Stock Up 2.0 %

Shares of CRNX stock traded up $1.18 during trading hours on Friday, reaching $58.87. 419,439 shares of the stock traded hands, compared to its average volume of 616,440. The firm has a market capitalization of $5.46 billion, a PE ratio of -15.78 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 1-year low of $32.56 and a 1-year high of $62.53. The business has a fifty day moving average price of $56.45 and a 200 day moving average price of $52.11.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the business earned ($1.01) EPS. Research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the completion of the sale, the chief operating officer now owns 51,653 shares of the company's stock, valued at $2,919,427.56. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total transaction of $53,302.50. Following the completion of the transaction, the insider now directly owns 68,576 shares in the company, valued at $3,531,664. This trade represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,911 shares of company stock valued at $2,144,675. Corporate 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.