Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC raised its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 15.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 460,000 shares of the company's stock after buying an additional 60,000 shares during the period. Crinetics Pharmaceuticals comprises approximately 3.1% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 8th biggest holding. Affinity Asset Advisors LLC owned approximately 0.50% of Crinetics Pharmaceuticals worth $23,520,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company's stock worth $10,614,000 after purchasing an additional 89,358 shares in the last quarter. Geode Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock valued at $94,458,000 after purchasing an additional 169,746 shares during the period. Franklin Resources Inc. lifted 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 acquiring an additional 528,688 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Crinetics Pharmaceuticals by 488.5% in the 3rd quarter. Principal Financial Group Inc. now owns 77,709 shares of the company's stock valued at $3,971,000 after purchasing an additional 64,504 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Crinetics Pharmaceuticals by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock worth $14,612,000 after purchasing an additional 894 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Insider Activity

In related news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the sale, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. This 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 worth $1,119,263 in the last quarter. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX traded up $0.84 during trading on Friday, reaching $30.42. 591,222 shares of the company's stock traded hands, compared to its average volume of 852,919. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -8.16 and a beta of 0.37. The company's 50 day simple moving average is $32.72 and its two-hundred day simple moving average is $44.90. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. Research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on CRNX. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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.