Wellington Management Group LLP Sells 160,722 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Wellington Management Group LLP reduced its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 3.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,459,691 shares of the company's stock after selling 160,722 shares during the quarter. Wellington Management Group LLP owned approximately 4.81% of Crinetics Pharmaceuticals worth $227,890,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in shares of Crinetics Pharmaceuticals by 0.9% in the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company's stock worth $145,047,000 after buying an additional 25,561 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth about $2,527,000. Vestal Point Capital LP acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth about $10,476,000. Martingale Asset Management L P acquired a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth about $1,128,000. Finally, PEAK6 Investments LLC increased its holdings in shares of Crinetics Pharmaceuticals by 25.0% in the 3rd quarter. PEAK6 Investments LLC now owns 10,000 shares of the company's stock worth $511,000 after acquiring an additional 2,000 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded down $2.25 during mid-day trading on Monday, hitting $56.62. The company's stock had a trading volume of 628,623 shares, compared to its average volume of 771,518. The firm has a 50-day moving average price of $56.45 and a 200 day moving average price of $52.12. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of -15.55 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS 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 anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRNX. JMP Securities reaffirmed a "market outperform" rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. HC Wainwright increased their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.18.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. The trade was a 18.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the completion of the sale, the insider now owns 68,576 shares of the company's stock, 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. Over the last three months, insiders sold 40,911 shares of company stock worth $2,144,675. 6.00% of the stock is owned by company insiders.

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.