Hood River Capital Management LLC Raises Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Hood River Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 851,400 shares of the company's stock after purchasing an additional 16,488 shares during the quarter. Hood River Capital Management LLC owned 0.92% of Crinetics Pharmaceuticals worth $43,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CRNX. Vanguard Group Inc. raised its holdings in Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after buying an additional 2,801,736 shares during the period. FMR LLC grew its position in Crinetics Pharmaceuticals by 100.4% in the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after acquiring an additional 4,472,316 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Crinetics Pharmaceuticals by 55.9% during the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after purchasing an additional 2,490,876 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Crinetics Pharmaceuticals by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock worth $276,844,000 after purchasing an additional 469,748 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock valued at $107,339,000 after acquiring an additional 250,708 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Insider Activity

In related news, COO Jeff E. Knight sold 7,162 shares of the firm's 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 transaction, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at approximately $2,992,192.20. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of the 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 $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at $11,256,827.40. The trade was 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 ninety days. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $31.27 on Wednesday. The business's 50-day moving average is $32.54 and its two-hundred day moving average is $44.52. The company has a market capitalization of $2.91 billion, a P/E ratio of -8.38 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.

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

Wall Street Analysts Forecast Growth

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

Crinetics Pharmaceuticals 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.

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