Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4,084.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 542,446 shares of the company's stock after purchasing an additional 529,483 shares during the period. SG Americas Securities LLC owned approximately 0.58% of Crinetics Pharmaceuticals worth $27,735,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 23.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 51,791 shares of the company's stock valued at $2,320,000 after purchasing an additional 9,859 shares in the last quarter. Amalgamated Bank increased its holdings in Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company's stock valued at $121,000 after buying an additional 464 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Crinetics Pharmaceuticals by 59.2% in the second quarter. Hsbc Holdings PLC now owns 10,948 shares of the company's stock worth $478,000 after acquiring an additional 4,072 shares during the period. Sei Investments Co. boosted its stake in shares of Crinetics Pharmaceuticals by 24.6% during the 2nd quarter. Sei Investments Co. now owns 36,973 shares of the company's stock worth $1,656,000 after acquiring an additional 7,304 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at about $221,000. Hedge funds and other institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Up 1.4 %

Shares of Crinetics Pharmaceuticals stock traded up $0.55 on Thursday, hitting $39.20. 938,795 shares of the company were exchanged, compared to its average volume of 1,288,550. Crinetics Pharmaceuticals, Inc. has a 1-year low of $35.51 and a 1-year high of $62.53. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -10.51 and a beta of 0.60. The company has a 50-day moving average price of $51.19 and a 200 day moving average price of $52.77.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same period last year, the business earned ($1.01) earnings per share. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 501 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the completion of the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of analyst reports. Citigroup upped their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday. HC Wainwright reissued a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Finally, JMP Securities restated a "market outperform" rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $72.64.

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.