Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,098,841 shares of the company's stock after purchasing an additional 250,708 shares during the quarter. Geode Capital Management LLC owned approximately 2.26% of Crinetics Pharmaceuticals worth $107,339,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CRNX. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals during the fourth quarter worth $41,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter valued at about $66,000. KBC Group NV grew its holdings in shares of Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after purchasing an additional 1,519 shares during the period. Janney Montgomery Scott LLC increased its position in Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after purchasing an additional 600 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Crinetics Pharmaceuticals by 19.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company's stock worth $258,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

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Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX traded up $0.25 during trading on Tuesday, hitting $30.03. The company's stock had a trading volume of 135,946 shares, compared to its average volume of 847,700. The company has a market capitalization of $2.79 billion, a PE ratio of -8.07 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The business has a 50 day moving average price of $33.26 and a two-hundred day moving average price of $45.40.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly 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. As a group, equities 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 recently weighed in on CRNX. 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. JMP Securities restated a "market outperform" rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Stifel Nicolaus began coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target 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 objective on the stock in a report on Wednesday, January 22nd. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Activity at Crinetics Pharmaceuticals

In related news, 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 value of $592,959.60. Following the transaction, the chief executive officer now owns 329,147 shares of the company's stock, valued at $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the sale, the insider now directly owns 31,748 shares of the company's stock, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock valued at $1,119,263 over the last 90 days. 6.00% of the stock is owned by corporate insiders.

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.