First Turn Management LLC Cuts Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

First Turn Management LLC lowered its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 353,376 shares of the company's stock after selling 15,926 shares during the period. Crinetics Pharmaceuticals accounts for about 2.9% of First Turn Management LLC's holdings, making the stock its 11th biggest position. First Turn Management LLC owned approximately 0.44% of Crinetics Pharmaceuticals worth $18,058,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CRNX. Russell Investments Group Ltd. raised its holdings in shares of Crinetics Pharmaceuticals by 366,571.4% in the 1st quarter. Russell Investments Group Ltd. now owns 51,334 shares of the company's stock valued at $2,403,000 after purchasing an additional 51,320 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company's stock worth $167,349,000 after acquiring an additional 72,624 shares during the period. SG Americas Securities LLC increased its stake in shares of Crinetics Pharmaceuticals by 1,224.8% during the second quarter. SG Americas Securities LLC now owns 79,051 shares of the company's stock valued at $3,541,000 after acquiring an additional 73,084 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Crinetics Pharmaceuticals by 27.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company's stock valued at $178,966,000 after purchasing an additional 814,360 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Crinetics Pharmaceuticals by 17.0% in the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company's stock valued at $273,764,000 after buying an additional 885,876 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crinetics Pharmaceuticals

In related news, CFO Marc Wilson sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the sale, the chief financial officer now directly owns 111,092 shares of the company's stock, valued at $5,677,912.12. This represents a 18.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $53.19, for a total transaction of $159,570.00. Following the completion of the transaction, the insider now owns 69,611 shares of the company's stock, valued at $3,702,609.09. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,410 shares of company stock worth $2,275,929 in the last three months. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Trading Up 2.7 %

Shares of CRNX traded up $1.47 during trading hours on Tuesday, hitting $55.17. 603,436 shares of the stock traded hands, compared to its average volume of 784,504. The firm has a market capitalization of $5.12 billion, a PE ratio of -14.79 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 1-year low of $29.23 and a 1-year high of $62.53. The business has a fifty day moving average of $55.09 and a 200-day moving average of $51.43.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the business earned ($1.01) earnings per share. As a group, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report 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 report on Friday, September 27th. Finally, Oppenheimer reissued an "outperform" rating and set a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.18.

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.