Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,089,391 shares of the company's stock after buying an additional 2,801,736 shares during the period. Vanguard Group Inc. owned 9.80% of Crinetics Pharmaceuticals worth $464,741,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CRNX. SG Americas Securities LLC lifted its stake in Crinetics Pharmaceuticals by 4,084.6% in the 4th 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 in the last quarter. Franklin Resources Inc. increased its holdings 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 valued at $73,815,000 after purchasing an additional 528,688 shares during the last quarter. FMR LLC lifted its position in Crinetics Pharmaceuticals by 8.8% during the third quarter. FMR LLC now owns 4,455,770 shares of the company's stock worth $227,690,000 after buying an additional 358,975 shares in the last quarter. Geode Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after buying an additional 169,746 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Crinetics Pharmaceuticals by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company's stock worth $38,814,000 after buying an additional 103,708 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

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Crinetics Pharmaceuticals Trading Down 6.9 %

Crinetics Pharmaceuticals stock traded down $1.98 during midday trading on Friday, reaching $26.89. 1,211,667 shares of the stock traded hands, compared to its average volume of 835,481. The firm has a market cap of $2.50 billion, a PE ratio of -7.21 and a beta of 0.37. The company has a 50-day simple moving average of $35.19 and a two-hundred day simple moving average of $46.71. Crinetics Pharmaceuticals, Inc. has a 12-month low of $26.48 and a 12-month high of $62.53.

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

Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 2,515 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares of the company's stock, valued at $2,470,368.60. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of the 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 represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock worth $1,119,263 over the last 90 days. Corporate insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

CRNX has been the topic of several analyst reports. TD Cowen began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating on the stock. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a "peer perform" rating on the stock. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus started 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 on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.